DGAP-News: Coreo sells part of its portfolio in Göttingen

Coreo sells part of its portfolio in Göttingen

• Further consolidation in 2019
• The transfer of benefits and burdens in 2019

Frankfurt am Main - 16 July 2019 - Coreo sold about 25% of its property in Göttingen consisting of 430 residential units - to an institutional investor. The company has since formed a product that meets institutional requirements from the portfolio acquired in mid-2018, which consists mainly of condominiums. Together with the already executed acquisitions and disposals at the location, Coreo is thus taking a major step closer to its goal.

According to the contract, the transfer of benefits and burdens is scheduled to take place on 31 December 2019, so that the transaction will still have an effect on sales and earnings in 2019. The parties agreed not to disclose the purchase price and other details of the transaction.
 

About Coreo AG
Coreo AG, which has its registered office in Frankfurt am Main, is a dynamically growing real estate company with a focus on German commercial and residential properties. Investments are made in real estate with considerable potential for appreciation thru refurbishment and repositioning, preferred in A and B macro locations. The goal is to build up an efficiently managed, high-yielding real estate portfolio through prudent development and the sale of non-strategic properties.