Zurich-based investor Intershop Holding said it plans to acquire a stake in Corestate Capital as part of a €20 mln capital increase aimed at funding the Swiss company's expansion.
Zurich-based investor Intershop Holding said it plans to acquire a stake in Corestate Capital as part of a €20 mln capital increase aimed at funding the Swiss company's expansion.
Zug-based Corestate Group has been an active investor in the German residential property market in recent months.
Ralph Winter, founder of Corestate Capital, commented: 'The expansion of our equity base is a sign of the consistent implementation of our growth strategy. Looking forward, the Corestate Group will in addition to its opportunistic approach also focus on core investments and those generating value-add returns. In Intershop Holding AG, we have now gained an institutional partner who wishes to join us in realising opportunities in the German real estate market.'
Intershop Holding is one of the oldest real estate companies listed on the SIX Swiss Exchange. The company’s investment activities focus on commercial properties with development potential.
