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Coreo pursues growth course with logistics property

·2-min read

DGAP-News: Coreo AG / Key word(s): Real Estate/Acquisition
07.09.2021 / 08:00
The issuer is solely responsible for the content of this announcement.

Coreo pursues growth course with logistics property

Frankfurt am Main, 7. September 2021 - Coreo pursues its growth course with the third acquisition this year. A logistics property with a total rental area of approx. 29,900 sqm was now acquired in Delmenhorst via a 100% subsidiary. There are also 190 parking spaces available on the approx. 54,700 m² property. The property is let to several parties and currently generates an annual rent of EUR 0.5 million and is planned to remain in the portfolio for the long term.

The Management Board believes that the property, which is conveniently located in terms of transport, has a noticeable potential for value appreciation, which will be developed in the next few years by means of active area management. In this context, Coreo plans to invest an amount of less than one net annual rent in the portfolio. Furthermore, potential possibilities for the use of the roof areas are being evaluated.
It is expected that the closing will still take place in the current quarter. The parties agreed not to disclose the purchase price.

"We succeeded in approximately doubling our real estate assets within a short period of time with this year's acquisitions and not least with the acquisition of the logistics property in Delmenhorst" Marin N. Marinov, CEO of Coreo AG, is satisfied and is already looking forward again: "We want to keep the pace of growth high beyond 2021 together with our new major shareholder".
 

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


07.09.2021 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:

1224940


 

End of News

DGAP News Service

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