05.04.2018
Coreo AG DE000A0B9VV6
DGAP-News: Coreo's real estate portfolio continues to grow: Purchase agreement signed for 430 residential units in Göttingen, Germany
DGAP-News: Coreo AG / Key word(s): Real Estate
Coreo's real estate portfolio continues to grow: Purchase agreement signed
for 430 residential units in Göttingen, Germany
05.04.2018 / 09:00
The issuer is solely responsible for the content of this announcement.
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Coreo's real estate portfolio continues to grow: Purchase agreement signed
for 430 residential units in Göttingen, Germany
Frankfurt am Main, Germany - 5 April 2018 - Coreo AG (WKN: A0B9VV, ISIN:
DE000A0B9VV6, Ticker: NNS) has signed a purchase agreement to acquire a
residential real estate portfolio with 430 almost fully leased
microapartments in and around Göttingen, Germany. With this transaction,
Coreo continues to expand its residential portfolio and has gained not only
a high and steady cashflow, but also significant value added potential.
The 430 residential properties are distributed over 12 blocks of flats and
are primarily located in Göttingen's city centre. With over 13,000 m² of
lettable space, the residential properties currently generate approx. EUR
1.2 million net rental income per year. The purchase price is around EUR 9.5
million. Coreo plans to tap into the high potential for value appreciation
in the coming years through further investments and active asset management.
"We intend to technologically modernise the portfolio and raise the standard
of the residential properties. The property market in Göttingen has shown
good growth and there is a sustained demand for small residential
properties. As a university city, around 20 % of Göttingen's population are
students, along with many young professionals. Against this background, we
anticipate a sustainable, significant increase in the value of the
properties," explains Coreo Chairman Marin Marinov.
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 value-driven real estate portfolio. Active asset management of the
properties and their redevelopment shall create high rental income and
attractive sales proceeds, so that Coreo establishes itself as a profitable
and successful real estate company in the long term.
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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05.04.2018 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
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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 News DGAP News Service
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671327 05.04.2018
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