“CORESTATE works customer-oriented at all times and understand our needs as an institutional investor. The cooperation is always trustful and goal-oriented.”
CORESTATE is presenting its Annual Report today for 2017, a year in which the company experienced dynamic growth. All financial targets in 2017 were clearly surpassed, with aggregate revenues of EUR 195.0 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 123.3 million and adjusted net income of EUR 93.3 million, in addition to comprehensive integration steps with the strategic acquisitions of Hannover Leasing, HFS and ATOS.
Due to increasing demand from institutional investors, the existing shareholders Ralph Winter and Marcellino Graf von und zu Hoensbroech have placed end of February around 4 million shares in the market via an accelerated bookbuild offering.
CORESTATE has bought 257 new apartments in Berlin and Dresden for its Special AIF CORESTATE Residential Germany Fund II. The total transaction volume is in the two-digit million euro range. CORESTATE acquired the Alfred & Charlotte project in Berlin's Lichtenberg district from developer Belle Époque. In Dresden, CORESTATE bought an inner city project, located between the Zwinger castle, the Semper Opera and the iconic Frauenkirche church.