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Coreo AG continues expansion

·2-min read

DGAP-News: Coreo AG / Key word(s): Expansion/Real Estate
28.09.2020 / 10:00
The issuer is solely responsible for the content of this announcement.

Coreo AG continues expansion

Frankfurt am Main - 28 September 2020 - By acquiring a logistics property in Haßloch, Rhineland-Palatinate, Coreo continues its expansion course. The property has a rental area of around 10,000 sqm and a plot size of around 25,000 sqm and is leased until mid-2024 to a well-known manufacturer of sporting goods. The overall investment will amount to EUR 3.4 million, including the planned investments in technical building equipment. After completion of the measures the return on investment will reach a level typical for the company.

Furthermore, Coreo acquired a plot of land of around 12,000 sqm in Wiesbaden, the state capital of Hesse. The precise extent of the development potential of the property, which is designated as residential land in the land use plan, will be defined in a B-Plan procedure. The parties agreed not to disclose the acquisition price.

The closing for both properties is scheduled for 2020.
 

About Coreo AG
Coreo AG, with headquarters in Frankfurt am Main, is a portfolio developer with a focus on German commercial and residential real estate. The real estate portfolio of existing and development properties forms the cornerstone of the company's three pillars of income: income from letting, sales and valuation. Investments are made in real estate with considerable potential for value appreciation with existing development needs, preferably in medium-sized centres and with a volume of EUR 5-20 million, as part of the value-creating growth strategy (sweet spot). The objective is to create an efficiently managed, high-yield real estate portfolio with a volume of EUR 400 - 500 million over the next few years by means of prudent development and the sale of non-strategic objects.



Contact:

Coreo AG
Andrea Glaab
Investor Relations
Grüneburgweg 18
D-60322 Frankfurt a. M.
ir@coreo.de
T: +49 (0) 69-21 93 96-0


28.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Coreo AG

Grüneburgweg 18

60322 Frankfurt am Main

Germany

Phone:

+49 69 2193 96-0

Fax:

+49 69 2193 96-150

E-mail:

ir@coreo.de

Internet:

www.coreo.de

ISIN:

DE000A0B9VV6

WKN:

A0B9VV

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1137173


 

End of News

DGAP News Service

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