08.05.2018 Coreo AG  DE000A0B9VV6

DGAP-Adhoc: Coreo acquires twelve attractive office, residential and commercial properties in top downtown locations


 
DGAP-Ad-hoc: Coreo AG / Key word(s): Real Estate/Contract
Coreo acquires twelve attractive office, residential and commercial
properties in top downtown locations

08-May-2018 / 20:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Coreo acquires twelve attractive office, residential and commercial
properties in top downtown locations

Frankfurt am Main, Germany - 8 May 2018 - Coreo AG (WKN: A0B9VV, ISIN:
DE000A0B9VV6, Ticker: NNS) has successfully completed the acquisition of the
Commerzbank owned "Hydra" portfolio. Coreo has invested approximately 22.5
million euros in twelve attractive value-added office, residential and
commercial properties in top downtown locations in the states of Hesse,
North Rhine-Westphalia, Rhineland-Palatinate and Schleswig-Holstein. This
investment sees Coreo continuing its consistent value-creating growth
strategy.

Located at the outskirts of the pedestrian zones in downtown areas, the
former Commerzbank branches offer a total lettable space of over 22,000 m².
Many of the sites are prime locations for office and residential use and
hold the potential for tremendous value creation given the positive
population growth forecasts and above-average retail KPI figures. Three
properties in the Rhine-Main region (Frankfurt, Hanau and Darmstadt) make up
the most valuable part of the portfolio as they benefit from the
extraordinary economic growth in the area. Other locations include the
university towns of Marburg, Giessen and Kiel, whose development is
influenced by a high demand in the education sector, as well as Trier, where
there is a very striking property in close proximity to the famous "Porta
Nigra", which is listed as the UNESCO World Heritage Site.

The former bank foyers will be converted into retail or gastronomy areas.
Due to the high demand for residential space, the offices in some locations
shall be converted into flats. This will considerably increase the share of
residential space of the portfolio up to around one third of the total
lettable area. An investment of approx. 5.5 million euros is planned for
renovating, conversion and reletting the properties.

"We intend to reveal the full potential of the portfolio over the coming
years and to effectively realise the gains. Aside from the attractive
regular rental income in the future, we expect an IRR far in excess of 50 %.
At the end of the process we will decide whether we want to sell the
properties at full occupancy or to keep them in our portfolio in the long
term", said Marin Marinov, the CEO. "This acquisition is the most important
milestone in our growth strategy to date and should significantly increase
our net asset value."


About Coreo AG
Frankfurt am Main based Coreo AG, is a real estate company focussing on
commercial and residential properties in Germany. It aims to develop and
manage a very profitable real estate portfolio. Active asset management of
the properties and their redevelopment shall create high rental income and
attractive sales proceeds.


Contact:
Coreo AG
Andrea Börner
Investor Relations
Grüneburgweg 18
D-60322 Frankfurt a. M.
[email protected]
T: +49 69 219396-0


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08-May-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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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), Munich, Stuttgart, Tradegate
                Exchange



   End of Announcement    DGAP News Service
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683063 08-May-2018 CET/CEST



INVESTOR-INFORMATIONEN
©boersengefluester.de
Coreo
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0B9VV 1,940 Kaufen 18,16
KGV 2019e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
14,92 16,80 0,886 -4,17
KBV KCV KUV EV/EBITDA
0,94 - 302,64 4,602
Dividende '17 in € Dividende '18e in € Div.-Rendite '17
in %
Hauptversammlung
0,00 0,00 0,00 19.06.2018
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
15.09.2018 17.04.2018
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-0,67% 0,15% 0,31% -7,44%
       

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