CORESTATE offers insights in current transactions and products at today´s Capital Markets Day and reports on numerous operational achievements in the entire group.
Frankfurt, 12 September 2019 – CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, offers insights in current transactions and products at today´s Capital Markets Day and reports on numerous operational achievements in the entire group.
CORESTATE CEO Lars Schnidrig is in particular delighted about a whole range of “new institutional clients, especially insurers, banks and pension schemes we just recently won for our real estate equity products. Thus, our strategy to internationalize assets and client base is showing first, important fruits.”
In the last couple of weeks, CORESTATE has announced several expansion steps of its micro living products in German major cities – to name Berlin, Hamburg and Cologne. Furthermore, the international extension of micro living activities with projects in Southern, Central and Northern European Metropolises has massively gained momentum. Further office and retail asset transactions were closed successfully on the domestic market. With this, the company underlines once again its annual organic AuM growth target of between 5 and 10%.
Shortly, the company via its subsidiary HFS will also enlarge its range of products for private debt real estate financings in German and European major cities. This “Whole Loan” offering not only leads to a remarkably deeper added value, but also to a change in the risk-return-profile and thus opens up the doors to new groups of investors Placements of warehousing assets into various client funds also progress as planned with the side effect of a further reduction of short-term financial debts. Accordingly, CEO Schnidrig once again affirmed the financial leverage for the full year of 2x to 3x and confirmed the company´s financial forecast for the full year 2019 of aggregated revenues of €285 to 295 million, adjusted EBITDA of €165 to 175 million and adjusted net profit of €130 to 140 million.
Beyond the excellent organic growth perspectives, realigning acquisitions from small and mid-sized asset managers in Europe remain on the company´s agenda. As recently shown in France with the investment manager STAM, CORESTATE will invest mid-double digit millions of Euros per annum out of its free cash flow for inorganic growth and will therefor consistently extend its leading European market position.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
Forward-looking statements
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