DGAP-News: Coreo AG / Key word(s): Real Estate
Coreo acquires manufacturing sites and administrative facilities from German automotive supplier listed on stock exchange
Frankfurt am Main, 8 July 2021 - Via a 100 % subsidiary, Coreo took over two manufacturing sites and the administrative headquarters of a well-known German automotive supplier listed on the stock exchange. Two manufacturing sites and the administrative headquarters were leased from the seller as part of the sale and lease back transaction. The triple net leases have a term of 10 and 3 years. In addition, there are renewal options of three times 5 years and three times 1 year, respectively. The leases generate annual rental income of more than EUR 700,000 for Coreo.
Marin Marinov, Chairman of the Board of Coreo AG, has an optimistic view of the future: "By means of the corporate financing concluded at the end of 2020 and fully disbursed in March, we created the financial basis for Coreo's further growth. Today, we made use of this for the first time. Furthermore, we are highly confident that, after intensive preliminary work, we will soon be able to carry out additional acquisitions and thus increase the volume of our real estate portfolio to more than 100 million euros."
About Coreo AG
08.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
60322 Frankfurt am Main
+49 69 2193 96-0
+49 69 2193 96-150
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
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