CORESTATE Group, a specialist private equity real estate investor based in Zug/Switzerland, with partner offices in Frankfurt, Essen, London, and Luxembourg, has held the final close of its German Commercial Properties Fund LP (CGC).
 

The final close includes a commitment from a large Finnish financial institution, taking the anticipated investment volume of the Fund to approximately EUR400 million.
 
Launched before the financial crisis, the Fund primarily invests in office and retail properties located in large urban areas of western Germany, Switzerland and Austria, which have continued to display solid economic fundamentals. Following a “value-add” and “opportunistic” investment style, the Fund has the ability to acquire direct property, real estate holding companies and invest in distressed situations of a corporate nature, including preferred equity and mezzanine investments.
 
Phillip Burns (pictured), CEO of CORESTATE, says: “We continue to see attractive opportunities emerge from the core European markets, largely due to the on-going distress.  We are very pleased to have secured this additional commitment which will enable the Fund to capitalise on the current and upcoming market opportunities.”