Coreo AG Announces Sale of Two Properties

Coreo AG has successfully completed the sale of two properties, namely the Ruhstrathöhe property in Göttingen and a real estate portfolio in Bad Köstritz. The company disclosed the transaction details, highlighting that the Ruhstrathöhe property was sold as part of their financial restructuring plan. This move aims to assist the funding for converting another property located in Untere Maschstrasse, Göttingen, with the proceeds intended to reduce the project company’s overall financing burden.

The properties in Bad Köstritz, however, were sold for a sum slightly below their market value as recorded in the balance sheet. The funds from this sale will be directed towards enhancing the liquidity of the Coreo Group. Additionally, Coreo plans to use this capital to explore new and promising opportunities within the current market environment.