Bvk-Residential Europe-Immobilienfonds Corestate, a fund of Bayerische Versorgungskammer and CORESTATE Capital Holding S.A. (DB:CCAP) acquired five project developments comprising a total of over 1,700 newly built micro-apartments in Germany from Consus Real Estate AG (DB:CC1) on January 11, 2018. The high-rise buildings are located in Dresden, Dusseldorf, Frankfurt, Offenbach, Cologne and Leipzig, respectively. The asset in Dresden will comprise 191 residential units with a total floor space of 11,100 sqm, 262 parking spots and 3,300 sqm of commercial space, as well as a restaurant and a bistro. In Düsseldorf, a multi-story building of 423 residential units with a total floor space of 22,600 sqm and close to 1,000 sqm of commercial space is being constructed by 2021. The Offenbach and Frankfurt will comprise 632 apartments with a combined living space of 31,500 sqm and 6,200 sqm of commercial space. A project with a total floor space of c. 20,700 sqm is being developed in Cologne which will be dedicated to 200 residential units. Leipzig asset featuring 296 apartments with 16,000 sqm of combined floor space is being developed. GSK STOCKMANN acted as the legal advisor, Duff & Phelps acted as the financial advisor and REAG GmbH acted as the real estate advisor in the transaction.

Bvk-Residential Europe-Immobilienfonds Corestate, a fund of Bayerische Versorgungskammer and CORESTATE Capital Holding S.A. (DB:CCAP) completed the acquisition of five project developments comprising a total of over 1,700 newly built micro-apartments in Germany from Consus Real Estate AG (DB:CC1) on January 11, 2018.