Coreo AG - M&A Activity 2020 | FinancialReports.eu

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Corporate | 28 September 2020 10:00

Coreo AG continues expansion

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

Acquisition of a completely let logistics property in Haßloch
Approx. 10,000 sqm rental space, WALT > 3 years and
Acquisition of a plot of land with potential for residential development in Wiesbaden

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.

[email protected]

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.

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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, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1137173