Corestate Capital Holding S.A.

  • WKN: A141J3
  • ISIN: LU1296758029
  • Land: Großherzogtum Luxemburg

Nachricht vom 26.05.2021 | 07:00

Corestate establishes leading financing platform for real estate companies - takeover of Aggregate Financial Services completed

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Takeover
26.05.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

Corestate establishes leading financing platform for real estate companies - takeover of Aggregate Financial Services completed

  • Private debt a key driver of growth in the corporate strategy
  • New, fully integrated platform in the future under the "Corestate Bank" brand
  • BaFin licence as a securities trading bank opens up access to the secondary market and expands the range of structuring and issuing services
  • Leading market position in the mezzanine business solidified through product innovation
  • Acquisition expected to contribute over € 15m in revenues and around € 10m in EBITDA in 2021

Frankfurt, 26 May 2021 - Corestate Capital Group ("Corestate"), a leading independent real estate investment manager in Europe, completed the takeover of Aggregate Financial Services GmbH ("AFS"). The newly acquired securities trading bank is to operate on the market as "Corestate Bank" in the future, with operative integration slated for completion in the second quarter.

René Parmantier, CEO of Corestate: "The real estate private debt market is benefiting from long-term and sustained drivers such as the rising regulatory requirements for banks, urbanisation and demographic change. As a financing platform for the entire real estate life cycle with recently expanded product expertise and an already leading position in the market, the future Corestate Bank will profit disproportionately from this growth and build further on its many years of success. There are also synergy effects and cross-selling potential of at least € 10m a year on both the client and offer side from which Corestate's real estate equity business also stands to benefit greatly through expanded and early access to real estate projects."

Sebastian Ernst, founder of AFS and a member of the Management Board at Corestate: "Both sides, AFS and HFS, already complement each other perfectly in terms of their offerings and client structures. Nevertheless, we will continue consistently developing new, high-margin products and services for our clients as in the past." Johannes Märklin, also a founder of AFS and a member of the Management Board at Corestate, adds: "The timing of the merger is ideal. Precipitated by the crisis, traditional banks are taking a noticeably more restrictive approach to lending - yet the shortage of housing in many major German cities can only be lastingly counteracted by solidly financed large-scale projects. We are a decisive player in this market."

The acquisition of AFS took part as a capital increase against contribution in kind by issuance of 8.5m new Corestate shares, which will be admitted to trading on the Frankfurt Stock Exchange in the weeks ahead and upon meeting all prerequisites, as well as a cash component of € 5m. By way of a lock-up agreement of three and five years with their approximately 2.5 million shares, Sebastian Ernst and Johannes Märklin have decided to stay with Corestate in the long term, reaffirming their sustained commitment to the company and all of its stakeholders. The remaining approximately 6 million new shares are subject to a lock-up of one year. Corestate expects a positive contribution from the acquisition of more than € 15m in revenues and around € 10m in EBITDA for the current year. As expected, the costs of the acquisition totalled between € 5m and € 10m and were already taken into account in the financial outlook for 2021.


Press contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

Investor relations contact
Mario Groß
T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com


About CORESTATE Capital Holding S.A. (CORESTATE)

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. Please visit www.corestate-capital.com for further information.

Forward-looking statements

This press release may contain certain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.



26.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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