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2018‑12‑29

Corestate Capital Holding S.A.: CORESTATE terminates employment of Michael Bütter ...

Corestate Capital Holding S.A.: CORESTATE terminates employment of Michael Bütter

12/29/2018

DGAP-Ad-hoc: Corestate Capital Holding S.A.: CORESTATE terminates employment of Michael Bütter

Corestate Capital Holding S.A. / Key word(s): Change of Personnel/Miscellaneous
Corestate Capital Holding S.A.: CORESTATE terminates employment of Michael Bütter

29-Dec-2018 / 16:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


 

CORESTATE terminates employment of Michael Bütter

Corestate Capital Holding S.A. terminates the employment of Michael Bütter and revokes the employment contract by the end of the year.

Until further notice, CEO's responsibilities will be assumed by the two Board Members Lars Schnidrig and Thomas Landschreiber. Lars Schnidrig temporarily assumes the function of the Chairman of the Management Board.

The separation of Dr. Bütter neither has any conjunction with the operational performance nor with the strategic orientation of the company. The guidance, raised in November 2018, and the indication for the dividend for fiscal year 2018 remain unchanged. Thus, the company expects aggregated revenues1 of EUR 270 to 280 million, adjusted EBITDA1 of EUR 160 to 170 million and adjusted net income1 of EUR 125 to 135 million. It is considered to propose a dividend of EUR 2.50 per share.

1 Please see for further details on our performance indicators on page 2 of our Q3 statement 2018


IR Contact
Dr. Kai Gregor Klinger
Head of Investor Relations and Capital Markets
T: +49 69 3535630106 / M: +49 152 22755400
ir@corestate-capital.com


29-Dec-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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2018‑12‑12

Corestate Capital Holding S.A.: CORESTATE enters into exclusive partnership with MEDICI LIVING, Euro ...

Corestate Capital Holding S.A.: CORESTATE enters into exclusive partnership with MEDICI LIVING, Europe's leading co-living provider

12/12/2018

Press release: Corestate Capital Holding S.A.: CORESTATE enters into exclusive partnership with MEDICI LIVING, Europe's leading co-living provider

  • Entry into the fast-growing Co-Living segment
  • Planned expansion of a portfolio worth EUR 1 billion
  • Investment volume of EUR 20 to 60 million per property
  • Securing attractive, high-growth revenue structures

December 12, 2018: CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, is expanding its Micro Living offering to include the fast-growing Co-Living segment. CORESTATE has entered into an exclusive partnership with the MEDICI LIVING Group, Europe's largest provider of innovative co-living concepts.

Under the QUARTERS brand, the MEDICI LIVING Group operates co-living spaces for creative people, young professionals and founders worldwide, including in New York, Amsterdam and Berlin. Its units offer users modern design, smart technology, spacious communal areas and regular events.

The cooperation plans to build a co-living portfolio worth EUR 1 billion across Europe within five years with investor money. As part of the cooperation, CORESTATE will identify, acquire and develop for its clients ideal sites and properties. The focus will be on cities in the German-speaking countries, Spain and Eastern Europe, with over 500,000 inhabitants and real estate with an investment volume of EUR 20 to 60 million. Several properties are already in the pipeline for the new product line. CORESTATE will benefit from its good market access and many years of experience in the micro living sector.

As part of the cooperation, MEDICI LIVING Group will prepare feasibility studies, support CORESTATE in property planning and design and fully assume operation. CORESTATE is securing long-term, high-growth revenue structures for itself and continuing to expand its market position in the trending area of "urban living."

"Together with MEDICI, we want to play a leading role in shaping the co-living market in Europe. Co-living properties optimally complement our current product range in the micro-living sector. It is a new, rapidly growing residential segment that covers millennials' rental requirements. They are looking to exchange ideas with like-minded people in a modern living space and experience community, no matter in which metropolis they are currently working. Our investors will also benefit from this trend. Through us, they have the opportunity to invest in a unique product range in the micro-living sector at European level," says Thomas Landschreiber, CIO and co-founder of CORESTATE.

Gunther Schmidt, founder and CEO of MEDICI LIVING Group, adds: "This partnership is the breakthrough for co-living in Europe". Gunther Schmidt sees even greater potential for the new asset class than for co-working. "The residential real estate market is much larger than that for office real estate," he adds. "We are building the WeWork of co-living and CORESTATE's investors can participate in it."

IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com

PR Contact
Andre Zahlten
T: +49 69 3535630-108 / M: +49 174 4022348
andre.zahlten@corestate-capital.com

About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 25bn in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 730 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.

Forward-Looking Statements
This press release may contain 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 situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

Financial Calendar

Jan 21, 2019 KeplerCheuvreux, German Corporate Conference (Frankfurt)

Jan 28 - Jan 29, 2019 Road Show (London)