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CORESTATE Capital S A : subsidiary STAM Europe raises ?160 million in additional equity for OPERA residential real estate fund

08/03/2021 | 01:02am EDT

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Funds
CORESTATE subsidiary STAM Europe raises ?160 million in additional equity for OPERA residential real estate fund

03.08.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

CORESTATE subsidiary STAM Europe raises ?160 million in additional equity for OPERA residential real estate fund

Paris, 3 August 2021 - STAM Europe, a subsidiary of the CORESTATE Capital Group, has acquired three new European institutional investors for its OPERA residential real estate fund. The equity commitments of the new investors combined with the willingness of existing shareholders to increase their stakes generate an increase of ?160 million in available equity for the fund. In total, including bank financing, the OPERA Fund has approximately ?380 million to deploy in residential real estate in France.

Samantha Sudre Roux, Director Investor Relations: "With this latest closing, the OPERA Fund will have attracted a total of just over ?300 million in equity from 9 European pension funds. This result, which is about 20% above our initial target, reflects a sustained appetite for the asset class among investors, but also confidence in the attractiveness of Paris as a world city and in STAM's ability to source attractive investment opportunities and to implement its strategy."

The Opera Fund, which was launched in December 2018 and is managed by STAM France IM is a long-term Core/Core+ real estate fund, investing in multi-family residential assets located mainly in Paris and its quality suburbs. The product targets properties which offer secured rental income and/or opportunities for value creation with renovation programs, the construction of new lettable areas, the restructuring of old commercial spaces, the division of existing larger apartments and the re-leasing of vacant ones. Recently, the OPERA Fund added two assets to its portfolio, located in the 17th and 3rd arrondissements, and signed a promissory contract on a Haussmannian building in the center of Paris.

Press contact

Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369

Investor Relations contact

Dr Kai Klinger
T: +49 69 3535630-106 / M: +49 162 1036025

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 and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 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.

03.08.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Corestate Capital Holding S.A.
4, Rue Jean Monnet
L-2180 Luxembourg
Phone: +49 69 3535630-107
Fax: +49 69 3535630-29
E-mail: IR@corestate-capital.com
Internet: www.corestate-capital.com
ISIN: LU1296758029
WKN: A141J3
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1223455

End of News DGAP News Service

1223455  03.08.2021 


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Sales 2021 250 M 293 M 293 M
Net income 2021 34,9 M 40,8 M 40,8 M
Net Debt 2021 434 M 507 M 507 M
P/E ratio 2021 8,66x
Yield 2021 3,34%
Capitalization 358 M 418 M 418 M
EV / Sales 2021 3,16x
EV / Sales 2022 2,65x
Nbr of Employees 804
Free-Float 76,5%
Duration : Period :
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Technical analysis trends CORESTATE CAPITAL HOLDING S.A.
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 10,47 €
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Spread / Average Target 52,8%
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Managers and Directors
RenÚ Parmantier CEO & Chairman-Management Board
Udo Giegerich Chief Financial Officer
Friedrich Munsberg Chairman-Supervisory Board
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