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CORESTATE successfully divests EUR 432m club deal development project in ViennaZug, )
The club deal encompasses Vienna's most prominent development projects, TRIIIPLE and Danube Flats, with a total investment volume of EUR 432m. TRIIIPLE is located in the heart of the popular third district near the Danube Canal and the Prater. The skyscraper trio will comprise 847 apartments. At a height of 150 metres, Danube Flats will become the tallest residential tower in the German-speaking countries. The 463-apartment project is located in the immediate vicinity of the UNO City.
Both projects will offer rental apartments and condominiums as well as office and commercial space. Concierge services, child care facilities, gyms and roof top gardens are part of the site concepts. The two projects will also include libraries and cinemas in order to cater to residents' needs.
Thomas Landschreiber, Chief Investment Officer of CORESTATE: “The exit from the club deal came earlier than expected and resulted in a very attractive return for our investors. These kinds of club deals form the basis of a very successful business model for our family office and UHNWI investors. We can truly say that our club deal investors are among CORESTATE's most loyal and devoted clients, and we will increase our club deal activities in order to offer even more interesting investment cases.”
This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
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