Berlin, January 9, 2017 – ACCENTRO Real EstateAG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, has once again raised its profit forecast for the past year. ACCENTRO expects consolidated net income of between 25.0 and 27.0 million euros. The previous forecast was 20.0 million euros. In addition, the portfolio was significantly expanded through acquisitions. “The past year was very successful for ACCENTRO, not only from an operational and financial perspective. We also took a major step forward strategically. We have completed our transformation into Germany’s first purely publicly traded residential privatization company. This is an important milestone in ACCENTRO’s development,” said Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. With notarized acquisitions of 1,765 units, the acquisition volume increased by approximately 57.3 percent compared to the previous year. The regional focus of the acquisitions was clearly on the Berlin residential market (1,292 units). All units were added to the privatization portfolio and open up further growth potential for ACCENTRO. The successful fiscal year concluded with the acquisition of 675 apartments in the Berlin district of Hohenschönhausen. The apartments are to be extensively modernized over the next few years and sold in accordance with ACCENTRO’s business objectives. ACCENTRO remains committed to growth in the 2017 fiscal year as well. “Berlin will continue to be our primary market in the future. However, we will also operate outside Berlin when opportunities arise,” said Mingazzini. Further growth opportunities for ACCENTRO lie in the new construction sector. “Given the tremendous boom in Germany’s major cities, we expect a further significant increase in new construction volume in the coming years. As a partner to project developers, we, too, will benefit from this,” said Mingazzini.
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 market-rate rents, 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