X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

UTRECHT, THE NETHERLANDS-Locally-based Corio has raised $361.6 million through a stock offering. The Pan-European real estate company sold 7.9 million shares for $45.55 per share.

“We expect that the current economic situation will generate attractively valued opportunities in the near to medium term in Corio’s home markets. In line with its strategy to build a premium quality portfolio of sustainable shopping centers Corio is preparing to take advantage of these opportunities,” CEO Gerard Groener says. “The accelerated bookbuild offering will allow Corio to take advantage of the most compelling opportunities while maintaining its strong balance sheet and financial flexibility.”

The offering consisted of 6.9 million new shares and an additional 1 million shares from the company’s treasury. The money raised will be used to fund acquisitions.

ABN AMRO Bank and J.P. Morgan Securities were joint bookrunners for the offering.

Corio owns properties in the Netherlands, France, Italy, Spain and Turkey. While its portfolio consists of all commercial property types, 94.6% of it is shopping centers. The firm held property in the US until pulling out in 2001.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.