Today the management board of CORESTATE decided to announce its outlook for the financial year 2018. The Company expects Aggregate Revenues and Gains of at least EUR 230 million, an Adjusted EBITDA of at least EUR 145 million and an Adjusted Net income of at least EUR 110 million. Additionally, the Company intends to take the next step as a public company and intends to apply for the admission to trading on the regulated market segment (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) in Q4 2017.
CORESTATE has been tasked with the property and facility management of a retail portfolio for a Universal-Investment-Fund of Bayerische Versorgungskammer (BVK). Valued at approximately EUR 700 million, the retail portfolio comprises over 90 properties in top shopping locations of pedestrian areas in medium-sized German cities.
Structured for a large German insurance company, the individual fund focuses primarily on fully equipped and furnished studio and one-bedroom apartments in central locations of major German and European cities such as Vienna, Austria.