ACCENTRO Acquires 682 Units and Increases Its Rental Portfolio by About 20 Percent
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Transaction with Significant Yield Potential
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Acquisition of an attractive portfolio in eastern Germany
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Total rental portfolio grows to approximately 4,300 units
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Sale of a portfolio in Rostock
Berlin, July 4, 2022 – ACCENTRO Real Estate AG, a residential real estate investor and Germany’s leading residential privatization company, is once again significantly expanding its rental portfolio. This brings the company closer to its strategic goal of further strengthening cash flow and profitability through its rental business.
As part of a share deal, ACCENTRO has acquired an attractive rental portfolio comprising 682 units in eastern Germany from a private investor. At the same time, a portfolio of 28 units in Rostock was sold to the same investor. The parties have agreed not to disclose the value of the transaction.
Lars Schriewer, CEO of ACCENTRO Real Estate AG, explains the high strategic significance of the acquisition: “This acquisition is another milestone in our strategy to establish the rental business as an additional pillar alongside residential privatization. With the purchase of this attractive portfolio, we are once again significantly expanding our rental portfolio by approximately 20 percent to nearly 4,300 units. The rising rental income increases positive cash flow and perfectly complements our successful privatization business and expanding service business. With the growing rental portfolio, we expect a strong boost to our profitability in the medium term. At the same time, the transaction confirms our ability to expand ACCENTRO’s market position even under challenging conditions.”
Residential Portfolio in Attractive Locations in Eastern Germany Further Expanded The acquired apartments are located in an economically thriving and scenically attractive region—offering excellent recreational opportunities—between Magdeburg and Halle. The portfolio, with a leasable area of approximately 39,000 square meters and a vacancy rate of 27 percent, offers significant potential for value appreciation. “It complements our existing rental housing portfolio in eastern Germany very well,” adds CEO Lars Schriewer.
ACCENTRO had already acquired several portfolios totaling approximately 3,000 units in the region in 2020 and 2021. The apartments in the states of Saxony, Saxony-Anhalt, and Thuringia are located in attractive regions and catchment areas around the cities of Magdeburg, Halle, Leipzig, Chemnitz, and Dresden. About ACCENTRO Real Estate AG ACCENTRO Real Estate AG is a residential real estate investor and the market leader in housing privatization in Germany. As of December 31, 2021, its real estate portfolio comprised approximately 4,900 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region. ACCENTRO’s business activities encompass three core areas: the sale of apartments to private owner-occupiers and investors at near-rental prices; the sale of real estate portfolios to institutional investors; the development and management of its own real estate portfolio; and services for third parties. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de
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Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
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10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272