Berlin, August 26, 2020 – ACCENTRO Real EstateAG , Germany’s leading residential privatization company, is further expanding its real estate portfolio in the major German metropolitan region of the Rhine-Ruhr. The acquired portfolio comprises 101 units in the cities of Essen and Duisburg and has a total leasable area of 7,320 square meters. With this acquisition, the company doubles its real estate portfolio in North Rhine-Westphalia to 216 units.
Essen and Duisburg are among the largest cities in Germany’s most populous metropolitan region, the Rhine-Ruhr, which is home to more than 10 million people. With approximately 40,000 students, the University of Duisburg-Essen is also one of Germany’s leading universities.
The acquired portfolio is fully leased and is located in a central downtown area with excellent infrastructure and in close proximity to the university. The portfolio also offers good development potential, which is to be enhanced in the coming years to improve the quality of living for existing and new tenants.
Lars Schriewer, CEO of ACCENTRO Real Estate AG: “With the acquisition of this attractive real estate portfolio, we are further strengthening our market position in North Rhine-Westphalia and successfully continuing our growth trajectory. Since the beginning of 2019, we have acquired a total of 1,200 units in Berlin and other major German metropolitan areas. We will continue to expand our real estate portfolio in the coming months, taking advantage of attractive opportunities.”
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 cities and metropolitan areas in eastern Germany, 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 on behalf of 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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