Coreo: acquires the manufacturing sites and administrative facilities of a listed German automotive supplier

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DGAP-News: Coreo AG / Keyword (s): Real estate

Coreo acquires manufacturing sites and administrative facilities from listed German automotive supplier

08.07.2021 / 09:00
The issuer is solely responsible for the content of this advertisement.


Coreo acquires manufacturing sites and administrative facilities from listed German automotive supplier

  • Annual rent> 700 EUR with triple net lease
  • Total rental area approx. 14,400 m²
  • Sale-leaseback transaction

Frankfurt am Main, July 8, 2021 – Via a wholly-owned subsidiary, Coreo took over two manufacturing sites and the administrative headquarters of a renowned German automotive supplier listed on the stock exchange. Two manufacturing sites and the administrative headquarters were leased to the seller as part of the sale and lease back transaction. Triple net leases have a term of 10 and 3 years. In addition, there are three times 5 year and three times 1 year renewal options, respectively. The leases generate annual rental income of more than 700,000 euros for Coreo.
The buildings are located in Baden-Württemberg, North Rhine-Westphalia and Thuringia and have a total leasable area of ​​approximately 14,400 m². Most of approx. 10,700 m² are used for manufacturing. The remaining areas are used for the administrative headquarters and offices of the two manufacturing sites.
The properties are in exceptional condition and require no investment for the foreseeable future. They also have excellent transport links and can be easily used by third parties. Closing is still scheduled for the third quarter of 2021. The parties have agreed not to disclose the purchase price.

Marin Marinov, Chairman of the Board of Directors of Coreo AG, has an optimistic vision for the future: “With the corporate financing concluded at the end of 2020 and fully disbursed in March, we have created the financial basis for the future growth of Coreo. . Today, we made use of it for the first time and we are also very confident that after intense preliminary work, we will soon be able to make additional acquisitions and thus increase the volume of our real estate portfolio to more than 100 millions of euros. “

About Coreo AG
Coreo AG, headquartered in Frankfurt am Main, is a growing real estate company focused on German commercial and residential real estate. The company invests in buildings with high development potential where there is a need for development, preferably in medium-sized centers. The objective is to build an efficiently managed high yield real estate portfolio.

Contact:
Coreo SA
Andrea Glaab
Investor Relations
Grüneburg Street 18
D-60322 Frankfurt a. Mr.
[email protected]
T: +49 (0) 69-21 93 96-0


08.07.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

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Language: English
Company: Coreo SA
Grüneburg Street 18
60322 Frankfurt am Main
Germany
Call: +49 69 2193 96-0
Fax: +49 69 2193 96-150
E-mail: [email protected]
The Internet: www.coreo.de
IS IN: DE000A0B9VV6
WKN: A0B9VV
Registered: Unofficial regulated market in Berlin, Düsseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1216366

End of news DGAP Information Service

1216366 07.08.2021

EQS 2021

Sales 2021 4.15 million
4.89 million
4.89 million
Net income 2021 2.70 million
3.18 million
3.18 million
Net debt 2021

PER 2021 ratio 11.8x
Yield 2021
Capitalization 27.0 million
31.9 million
31.9 million
Capi. / Sales 2021 6.51x
Capi. / Sales 2022 4.34x
Number of employees
Free float 71.0%

Duration:

Period:

Coreo AG Technical Analysis Chart |  MarketScreener

Trends in technical analysis COREO AG

Short term Mid Road Long term
Tendencies Bullish Neutral Neutral

Evolution of the income statement

Consensus

To sell
Buy

Average consensus BUY
Number of analysts 2
Last closing price

€ 1.54

Average price target

€ 2.18

Spread / Average target 41.2%



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