Corestate completed the acquisition of Laurenz Carré from Gerchgroup.

Corestate, a real estate investment manager, completed the acquisition of Laurenz Carré, a sustainable urban city quarter in the center of Cologne, from Gerchgroup, a provider of nationwide project development and investment services. Financial terms were not disclosed. “The Laurenz Carré is an absolute showcase project with an urban character for the centre of Cologne. It combines very different types of use in a convincing way and is emblematic of the urbanity of the future, which offers new attractive possibilities for working and living together. Gerchgroup is the ideal partner for us to implement such a complex project because we are building on an already successful and professional joint business history. This is particularly important for us, as high expectations are placed on the realisation of the Laurenz-Carré from many sides – whether it’s the city, residents, business neighbours or also new tenants and, last but not least, our customers," Tobias Gollnest, Corestate CIO DACH.