Berlin, December 23, 2020 – ACCENTRO Real EstateAG , a residential real estate investor and Germany’s leading residential privatization company, has sold a real estate portfolio in Bayreuth and the surrounding area to an institutional investor. The portfolio comprises 189 units with a total leasable area of approximately 11,000 square meters. The parties have agreed not to disclose the purchase price.
ACCENTRO has extensively renovated and modernized the properties in recent years. Among other things, facades, roofs, and heating systems were replaced. In addition, balconies were added in some cases, and common areas such as stairwells and outdoor facilities were redesigned. Vacant apartments were also renovated.
“This successful transaction underscores ACCENTRO’s broad range of services. By acquiring properties in sought-after locations and subsequently carrying out value-enhancing modernization and renovation, we were able to create attractive living spaces for tenants. At the same time, projects like these offer good investment opportunities for institutional buyers, for whom residential real estate in Germany represents a stable and sustainable form of investment,” commented Lars Schriewer, CEO of ACCENTRO Real Estate AG.
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 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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