Berlin, June 6, 2017 – ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN DE000A0KFKB3) is acquiring a residential complex with 49 residential units in Cologne-Niehl. “In addition to Leipzig, Cologne is another high-growth location we are entering this year,” explains Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. “The city is experiencing continuous economic growth and positive demographic trends, making it one of the most interesting major cities in Germany,” Mingazzini adds. Cologne’s fundamentals are developing exceptionally well. As is the case nationwide, the homeownership rate remains very low. “These are excellent prospects for long-term growth,” says Mingazzini.
Home Market Berlin
Current acquisitions are primarily concentrated in central locations in Berlin. In the second quarter, a total of ten properties comprising 197 units were acquired in neighborhoods including Prenzlauer Berg, Mitte, Schöneberg, and Lichtenberg for an average of 2,055 €/m². “Given the current market conditions, we are particularly pleased that we were able to acquire these properties on especially favorable terms,” explains Mingazzini.
Well-Stocked Pipeline, Strong Locations
The pipeline of apartments to be privatized is very well-stocked. As of December 31, 2016, ACCENTRO had a total of 2,422 apartments in its current assets. In the current fiscal year, an additional 1,085 units in Berlin, Leipzig, and Cologne will be transferred. Further acquisitions are nearing notarization.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in apartment 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 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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Thomas Eisenlohr
ACCENTRO Real Estate AG
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10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272