Shares in real estate investment manager Corestate started trading at €17.40 on the Frankfurt Stock Exchange on Tuesday, giving the company a market capitalisation of €219.4 mln.
Swiss-based Corestate said that a capital increase by means of a private placement was successfully completed prior to going public.
‘Today, Corestate took its first step onto the trading floor, reaching the next stage of development ten years after its founding. The capital increase before going public gave us the opportunity to continue to follow our growth course,’ said CEO Sascha Wilhelm, adding: ‘Due to the stable demand for real estate investment products in general and comprehensive investment management solutions in particular, we are looking to the future with confidence.’
In recent years, Corestate has developed into a leading real estate investment manager and coinvestor. Since its founding, the company has carried out real estate transactions totalling around €5.6 bn.
Corestate focuses on retail assets and housing - particularly micro-apartments for student housing and business apartments - in Germany, Austria and selectively in other European markets such as Spain.
