Coreo AG - Environmental & Social Information 2017

News Details

Corporate | 10 May 2017 10:10

First transaction since new focus on real estate: Coreo AG invests in a portfolio of 96 residential units

DGAP-News: Coreo AG / Key word(s): Real Estate

10.05.2017 / 10:10

The issuer is solely responsible for the content of this announcement.

First transaction since new focus on real estate: Coreo AG invests in a portfolio of 96 residential units

Frankfurt am Main, 10 May 2017 – Coreo’s bid has been accepted at a foreclosure auction for an attractive residential property portfolio. The total investment volume amounts to around 3.1 million euros.

The property portfolio consists of 4 apartment buildings, with a lettable area of 6,078 square metres, in a central location in Bad Köstritz. The site comprises 10,948 square metres of land. The residential complex, almost completely tenanted, was built at the beginning of the 1960’s, and modernised in the 1990’s. Bad Köstritz is situated on the White Elster river in the Thuringian district of Greiz, about 9 kilometres north of Gera. The region shows sound economic data and development. The small town of Bad Köstritz is well-known for its brewery, founded in 1543, with its famous black beer. To this day it is one of the most important employers in the region.

Coreo CEO Marin Marinov comments: “As announced in the news on the annual figures, our investment activities are currently gaining momentum nicely. With the residential property portfolio in Bad Köstritz, we have succeeded in acquiring an attractive residential portfolio on advantageous terms, which will earn us a yield on our equity stake in the double digits. We are confident that we will conclude further real estate transactions in the near future.”

About Coreo AG

With the transformation to Coreo AG, the company – which emerged from the technology-focused investment company Nanostart AG – is oriented in a new strategic direction. The aim is to build up a real estate portfolio of selected office, retail and residential properties of lasting value.

Contact:

Coreo AG

Andrea Börner

Grüneburgweg 18

D-60322 Frankfurt a. M.

[email protected]

T: +49 (0) 69 219396-0

10.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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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:	[email protected]
Internet:	www.coreo.de
ISIN:	DE000A0B9VV6
WKN:	A0B9VV
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Open Market (Basic Board) in Frankfurt