Corestate and BVK launch €500m micro-apartment fund

CORESTATE Capital Holding S.A. and its partner Germany-based pension fund Bayerische Versorgungskammer have launched the special fund BVK-Residential Europe-Immobilienfonds Corestate with a targeted volume of approximately €500 million ($544 million).

The special fund primarily invests in micro apartments, especially student housing properties in European university towns that have continued to display solid economic fundamentals, with a special focus on Germany and Austria.

The first assets integrated into the fund are five student housing assets with a total of 1,836 units from CORESTATE’s current portfolio, which have an aggregated annual net rental income of approximately €9.3 million ($10.1