- Minority stake in a residential portfolio comprising 321 units in prime locations in Hamburg - Privatization of 193 units agreed upon by ACCENTRO
Berlin, March 9, 2018 – ACCENTRO Real EstateAG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, a leader in residential privatization in Germany, is acquiring a stake in a residential portfolio comprising 321 units in prime locations in Hamburg through a joint venture. As part of the joint venture, ACCENTRO will privatize 193 residential units in the portfolio. ACCENTRO is thus significantly expanding its presence in one of Germany’s most attractive residential real estate markets.
Expanding Presence in an Attractive Real Estate Market
With a minority stake in the joint venture, ACCENTRO secures access to promising privatization properties. The joint venture partners are renowned, internationally active real estate investors. “With this joint venture, we are investing in a portfolio in Hamburg’s prime locations and consistently continuing our nationwide expansion. This partnership is particularly interesting for us because, in addition to investment income, we will benefit significantly from sales mandates,” explains Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. “I am pleased that we are able to significantly expand our presence in Hamburg, as this real estate market offers excellent opportunities,” Mingazzini concludes.
Privatization portfolio in Hamburg’s prime locations
The portfolio, with a total area of just under 30,000 square meters, comprises twelve residential buildings in the Hamburg neighborhoods of Eppendorf, Harvestehude, Winterhude, Neustadt, and Uhlenhorst. The portfolio offers potential for loft conversions and infill development, which will be realized during the privatization process. ACCENTRO already has a consulting office in Hamburg. As part of the joint venture, the team will be further strengthened and the company’s presence in Hamburg expanded. In addition to its headquarters in its home market of Berlin, the residential privatization company operates consulting offices in Hamburg, Hanover, Leipzig, and Cologne. With a privatization portfolio of approximately 3,000 residential units, the company is the market leader in residential privatization in Germany.
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-level 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 holders, 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
Contact for Press and Public Relations
Jan Hutterer
Kirchhoff Consult AG
Borselstraße 20
22765 Hamburg
Email: accentro@kirchhoff.de
+49 (0)40 – 609 186 65
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272