CoreStates Financial Corporation

DGAP-News: CORESTATE publishes ESG report 2022 and strengthens ESG service offering for decarbonization in the real estate sector

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Thursday, June 30, 2022
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Frankfurt, 30 June 2022 CORESTATE Capital Group S.A. (Corestate), a leading independent real estate investment manager in Europe, has announced on the occasion of the publication of this year's ESG report that it will further strengthen its ESG services offering additional support for its clients in decarbonizing their real estate assets.

Key Points: 
  • Frankfurt, 30 June 2022 CORESTATE Capital Group S.A. (Corestate), a leading independent real estate investment manager in Europe, has announced on the occasion of the publication of this year's ESG report that it will further strengthen its ESG services offering additional support for its clients in decarbonizing their real estate assets.
  • "We are noticing a continuous increase in sustainability preference among investors, tenants and financing partners," says Izabela Danner, COO of Corestate and responsible for ESG at board level.
  • "Our clients need guidance in a rapidly changing market environment and pragmatic solutions for a very ambitious regulatory ESG agenda.
  • We see this development as a challenge and opportunity and offer our clients comprehensive ESG services with a focus on risk management, reporting and product innovation."

DGAP-News: Aggregate Holdings SA: Full year results 2021

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Wednesday, June 29, 2022
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Luxembourg, 29 June 2021 - Aggregate Holdings S.A. (Aggregate) today publishes FY 2021 results.

Key Points: 
  • Luxembourg, 29 June 2021 - Aggregate Holdings S.A. (Aggregate) today publishes FY 2021 results.
  • 2021 was a period of strong asset growth for Aggregate Holdings, in particular in its Build & Hold division, where Aggregate completed the acquisition of three prime, large-scale projects in Berlin with a Gross Floor Area of c.820,000 sqm.
  • Aggregate has successfully completed transformational acquisitions and financings in 2021.
  • The market value of the three projects increased from 825m at FY 2020 to 1,137m at FY 2021.

DGAP-News: Corestate reports figures for the first quarter of 2022 – business affected by increased macroeconomic uncertainties

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Tuesday, May 10, 2022
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Frankfurt, 10 May 2022 The Corestate Capital Group (Corestate) published its results for the 1st quarter of 2022 today.

Key Points: 
  • Frankfurt, 10 May 2022 The Corestate Capital Group (Corestate) published its results for the 1st quarter of 2022 today.
  • The aggregated revenues and gains from continued activities stood at 29.7m, compared to 30.2m in the same quarter of the previous year.
  • Real estate assets under management within Corestates core business amounted to approximately 18.4bn as at the end of the 1st quarter 2022.
  • The Management Board is therefore withdrawing the forecast for fiscal 2022 and the corresponding dividend statement until further notice.

William W. Davis, Jr. to Retire as Board Chairman of Norwood Financial Corp and Wayne Bank

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Tuesday, April 26, 2022
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Bill started his career in 1962, working at Northeastern Bank of PA each summer while attending college.

Key Points: 
  • Bill started his career in 1962, working at Northeastern Bank of PA each summer while attending college.
  • Shortly thereafter, PNC acquired Northeastern Bank and Directors of Third National Bank of Scranton approached him to become President of the Bank.
  • He retired from executive management on December 31, 2009 and remained on the Board of Directors, ultimately becoming Chairman of the Board.
  • Norwood Financial Corp is the parent company of Wayne Bank, which operates from fourteen offices throughout Northeastern Pennsylvania and sixteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York.

DGAP-News: Corestate presents unqualified audit opinion and publishes Annual Report 2021

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Wednesday, April 20, 2022
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Strengthening of the core business, streamlining of Group structure and costs reduction in progress

Key Points: 
  • Strengthening of the core business, streamlining of Group structure and costs reduction in progress
    Frankfurt, 20 April 2022 - Corestate Capital Holding S.A. (Corestate) today announces the final and audited results for the financial year 2021.
  • The aggregated revenues and gains reported on 8 March 2022 with regard to continued operations remains unchanged at 215.4m.
  • In relation to valuations, the Management Board has established additional risk provisions and carried out value adjustments in coordination with the auditor.
  • With the postponement of the publication of the Annual Report 2021, Corestate will also hold the annual shareholder meeting later than originally scheduled - it is still planned to be held as a purely virtual event this year.

DGAP-News: CORESTATE publishes preliminary figures and successfully concludes financial year 2021- Core business to be strengthened significantly - Management team realigned with Stavros Efremidis as CEO

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Tuesday, March 8, 2022
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In the financial year 2021, Corestate successfully increased its aggregated revenues and gains to a total of 245.5m (previous year: 191.4m).

Key Points: 
  • In the financial year 2021, Corestate successfully increased its aggregated revenues and gains to a total of 245.5m (previous year: 191.4m).
  • The Property Management business, which is to be sold, contributed 30.1m (previous year: 29.4m) to aggregated revenues and gains.
  • Corestate has thus achieved the 2021 financial guidance, which had been given including discontinued operations, at all levels.
  • This will entail focusing strictly on its core real estate asset management business and divesting low-yield peripheral activities.

DGAP-News: Corestate subsidiary HFS sells top residential portfolio to KGAL - largest real estate transaction in Leipzig in 2021

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Thursday, January 27, 2022
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Frankfurt/Pfffikon (CH), 25 January 2022 - The Corestate subsidiary HFS has sold a premium new residential construction portfolio with commercial space and a gross lettable area of 22,900 m in Leipzig, Germany, to KGAL Investment Management GmbH's KGAL Wohnen Core 3 institutional fund for a nine-digit figure.

Key Points: 
  • Frankfurt/Pfffikon (CH), 25 January 2022 - The Corestate subsidiary HFS has sold a premium new residential construction portfolio with commercial space and a gross lettable area of 22,900 m in Leipzig, Germany, to KGAL Investment Management GmbH's KGAL Wohnen Core 3 institutional fund for a nine-digit figure.
  • On account of its volume, the deal was the largest residential development transaction in Leipzig in 2021.
  • In 2016, the project was acquired on behalf of a German superannuation scheme through a special AIF initiated by HFS.
  • From the start of construction, HFS successfully managed and optimised the portfolio for the institutional client while overseeing the final development of the project.

DGAP-News: Corestate Capital Holding S.A.: Stavros Efremidis becomes new Chairman of the Supervisory Board

Retrieved on: 
Tuesday, January 4, 2022
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January 2022 - The significant changes in the shareholder base of Corestate Capital Holding S.A. ("Corestate") now also lead to a personnel change in the company's Supervisory Board.

Key Points: 
  • January 2022 - The significant changes in the shareholder base of Corestate Capital Holding S.A. ("Corestate") now also lead to a personnel change in the company's Supervisory Board.
  • Stavros Efremidis and Dr. Bertrand Malmendier are joining the Group's supervisory body with effect from January 1, 2022.
  • Withal the 53-year-old Efremidis will assume the role of Chairman of the Supervisory Board.
  • Stavros Efremidis expressly thanks the previous Chairman of the Supervisory Board, Friedrich Munsberg, and his deputy, Prof. Dr. Hermann Wagner, for their work.

DGAP-News: Corestate acquires Cologne's prestigious Laurenz Carré project from Gerchgroup AG

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Tuesday, December 21, 2021
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Gerchgroup will continue to plan, realise and hand over the entire project on a turnkey basis.

Key Points: 
  • Gerchgroup will continue to plan, realise and hand over the entire project on a turnkey basis.
  • Corestate was involved in the financing of the project at an early stage via HFS and has accompanied the process ever since.
  • Tobias Gollnest, CIO DACH at Corestate: "The Laurenz Carr is an absolute showcase project with an urban character for the centre of Cologne.
  • Gerchgroup AG is the ideal partner for us to implement such a complex project because we are building on an already successful and professional joint business history.

DGAP-News: Corestate demonstrates shopping centre placement expertise with the sale of the important local shopping centre Warnow Park in Rostock

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Monday, December 20, 2021
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Bechtolsheim Real Estate was entrusted with the property valuation and investor approach of Warnow Park.

Key Points: 
  • Bechtolsheim Real Estate was entrusted with the property valuation and investor approach of Warnow Park.
  • "We have once again shown that Corestate great expertise and experience at placing large-volume mixed-use retail properties and handed over a long-established and regionally extremely popular centre in top condition.
  • Our "neustdter" shopping mall in the city centre of Giessen is another example of this.
  • The hybrid shopping centre - a retail park with the characteristics of a shopping centre - serves the Rostock district of Ltten Klein/Lichtenhagen.