Berlin, September 23, 2019 – ACCENTRO Real EstateAG has acquired a residential portfolio in Upper Bavaria for more than 50 million euros. This brings the total value of real estate acquired so far in 2019 to 137.5 million euros. The portfolio offers significant potential for redensification, thereby also strengthening ACCENTRO’s new construction segment. With a volume of approximately 79 million euros, the company has also purchased more properties outside Berlin for the first time this year. Properties were acquired in Leipzig, Rostock, Hamburg, Düsseldorf, Upper Bavaria, and on Usedom.
“We are increasingly focusing on properties with redensification potential as well as land for new-construction project developments in the Berlin metropolitan area,” explains Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. “With the new acquisition in Upper Bavaria and the substantial investments in the Berlin metropolitan area, we are consistently pursuing our comprehensive strategy of geographic diversification and nationwide expansion.”
Furthermore, a strategic shift toward a longer holding period is being implemented for part of the Berlin portfolio. For the so-called “Pracht” portfolio, the initial focus will be on acquiring additional ownership stakes. Subsequently, existing value-creation potential will be leveraged.
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, 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 tenant-oriented sale of apartments to owner-occupiers and private investors, 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 property 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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