Via a 100 % subsidiary, Coreo took over two manufacturing sites and the administrative headquarters of a well-known German automotive supplier listed on the stock exchange. Two manufacturing sites and the administrative headquarters were leased from the seller as part of the sale and lease back transaction. The triple net leases have a term of 10 and 3 years. In addition, there are renewal options of three times 5 years and three times 1 year, respectively. The leases generate annual rental income of more than EUR 700,000 for Coreo. The properties are located in the German Baden-W-rttemberg, North Rhine-Westphalia and Thuringia and have a total rental area of around 14,400 m-. The greater part of approx. 10,700 m- is used for manufacturing. The other areas are used for the administrative headquarters and offices at the two manufacturing sites. The properties are in an exceptionally good state of maintenance and do not require any investment in the foreseeable future. They also have excellent transport connections and can be easily used by third parties. The closing is still scheduled in the third quarter of 2021. The parties agreed not to disclose the purchase price.