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Coreo announces consolidated half-year figures (IFRS) - Seite 2

The financing of the properties in Mannheim and Bruchsal was prolonged as planned in the first half of 2020 at improved conditions. The Management Board still assumes that it will be able to complete the announced financing in October in order to replace the outstanding bond with warrants and secure the financing of additional acquisitions. In the second half of the year, net cold rents will rise considerably. New rentals in the Hydra portfolio will contribute to this, in addition to the successful acquisition of the residential portfolio in North Rhine-Westphalia. The Managing Board expects the sale of the property in Bielefeld and an additional partial sale in Mannheim to generate revenues of approximately EUR 1 million by the end of the year.

The complete half-year report 2020 will soon be available for download at www.coreo.de.
 

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.
[e-mail]
T: [phone]

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06.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language:	English
Company:	Coreo AG
	Grüneburgweg 18
	60322 Frankfurt am Main
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
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:	1138766