Berlin, December 28, 2016 – ACCENTRO Real EstateAG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, today acquired 675 apartments in Berlin’s Hohenschönhausen district from Münchener Baugesellschaft mbH. The apartments are part of a development project on Gehrenseestraße that calls for a comprehensive modernization of the vacant prefabricated buildings from the 1980s included in the project. Work is scheduled to begin in 2017, be carried out in nine construction phases, and be completed in 2020. The modernized apartments will then be resold in due course, in line with ACCENTRO’s business purpose. In return, ACCENTRO is transferring a majority stake of equal value in the property company, which holds the bulk of its existing portfolio consisting of 3,073 apartments. ACCENTRO will therefore focus exclusively on the trading and privatization of apartments in the future. Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG, commented: “This transaction is an important milestone for us in two respects. First, we are acquiring an interesting and promising project in our most important market, Berlin, which will further expand our portfolio. Second, with the sale of the majority stake in our core portfolio, we have achieved our goal of being able to focus exclusively on our core business. We are now finally a pure-play residential privatization company—and, moreover, the only one in Germany that is publicly traded. This transaction thus rounds off a very successful year for us.”
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the sale of apartments to owner-occupiers and private investors at rent-like prices, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for portfolio owners, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
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Jan Hutterer
Kirchhoff Consult AG
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Email: accentro@kirchhoff.de
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Thomas Eisenlohr
ACCENTRO Real Estate AG
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10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272