Corestate purchases ATOS Capital with c. €2bn AuM

Corestate Capital Holding, a fully integrated real estate investment manager and co-investor headquartered in Luxembourg, is purchasing a 100% stake in ATOS Group. Founded in 2006, ATOS is an owner-managed real estate company that specializes in the asset management of commercial properties in Germany and Austria. The company manages a portfolio of 215 assets in more than 150 cities valued at c. €2bn. Over the past five years, ATOS realized a transaction volume of €2.1bn Headquartered in Hamburg, Germany, the company employs 65 people at 12 locations in Germany and Austria. Corestate Group’s assets under management are expected to amount to c. €22bn at year end.

The two founders of ATOS, Udo Stocker and Dr Michael Hermes, will assume the overall management and coordination of the Corestate Group’s asset management business.

The purchase price for ATOS was not disclosed, however, it is less than 5 times its 2018 expected net income.

The ATOS Group manages two separate funds for German institutional investors for commercial real estate which will be expanded after integration of ATOS into the Corestate Group.

Sascha Wilhelm, CEO of Corestate: “The acquisition of ATOS is in line with of our strategy to integrate interesting, undervalued asset managers. In addition, there is an important strategic component of the transaction because it boosts our management team, positioning us well to drive superior performance for our investors. The current ATOS Managing Directors, Udo Stocker and Dr Michael Hermes, will jointly lead the real estate asset management operations of the Corestate Group. Moreover, we like the stable and recurring earnings of ATOS in combination with interesting synergy potentials regarding the cost optimization in the group. The accretive effect for our shareholders is positive and the future earnings from this inorganic growth are not included in our current financial outlook for 2018.”