Corestate wants to be listed on the Frankfurt Stock Exchange

To this end, the company intends to issue new shares from a cash capital increase with gross issue proceeds of around 100 million euros. In addition, the sale of shares from the holdings of individual existing shareholders is planned, enabling a free float of over 50 percent.

Currently, around 70.9 percent of the share capital is held by the two founders Ralph Winter (64.2%) and Thomas Landschreiber (6.7%). Another core shareholder is Intershop Holding AG (28.1%), which is listed in Switzerland. The offer will also include a customary greenshoe consisting of existing shares held by existing shareholders of up to 15 percent of the offer volume.

The shares are to be offered publicly in Germany and internationally to institutional investors in certain jurisdictions outside Germany and outside the USA by way of a private placement.

Corestate plans to use the expected proceeds from the capital increase to increase the number of transactions as well as to selectively execute transactions with higher volumes, including the launch of long-term investment products for institutional clients.

This is intended to accelerate the sustainable growth of the real estate assets under management. As of June 2015, Corestate manages real estate assets of EUR 1.4 billion (including planned project developments). The higher equity base will also enable the company to expand its warehousing activities, i.e. the temporary acquisition of properties into its own portfolio, and thus realize favorable market opportunities more quickly, the company writes in a statement.

Corestate invests for its clients - in particular investors with family office or ultra-high net worth backgrounds - primarily in the residential, student housing and commercial (especially retail) asset classes in Germany and selectively in other European markets, currently Austria and Spain. Corestate's main income streams are management and advisory fees. In addition, there is income from co-investments and from properties temporarily held in the company's own portfolio.

Corestate has grown strongly in recent years, with consolidated revenue increasing 42.3 percent p.a. from 2012 to 2014, and consolidated net income increasing 2.3 times over the same period. (ah)