- Long-term refinancing of the two bonds, with a total volume of 350 million EUR, successfully completed
- An important foundation for ACCENTRO to continue on its path to success
- Dr. Gordon Geiser Appointed to the Executive Board and as Chief Investment Officer of ACCENTRO Real Estate AG
Berlin, March 10, 2023 – ACCENTRO Real Estate AG (“ACCENTRO”), an investor in residential real estate and Germany’s leading residential privatization company, has successfully completed a comprehensive refinancing transaction. All conditions for the implementation of the refinancing of the 2020/2023 bond (volume: EUR 250 million) and the 2021/2026 bond (volume: EUR 100 million) have been met. As a result, all changes have taken effect. These include, among other things, the extension of the maturity of both bonds by three years each (to 2026 and 2029, respectively) and an increase in the interest rate for both bonds by two percentage points each (to 5.625% and 6.125%, respectively).
The contractually guaranteed repayment of the 2020/2023 bond in the amount of EUR 25 million, due upon the refinancing taking effect, took place on March 9, 2023. Lars Schriewer, CEO of ACCENTRO Real Estate AG, states: “The overwhelming support from our investors sends a strong signal. This allows us to continue on our path to success.”
Effective February 10, 2023, the Supervisory Board appointed Dr. Gordon Geiser as an additional member of the Executive Board and Chief Investment Officer (CIO) of ACCENTRO Real Estate AG. As CIO, Dr. Geiser will share responsibility for the Transactions division (acquisitions, investments, and divestitures) and will be responsible for liquidity management. Thanks to his many years of experience, he possesses a comprehensive and in-depth understanding of real estate and real estate financing and has previously supported numerous companies through similar processes as a member of executive management. Dr. Geiser’s appointment is limited in duration in accordance with the terms of the refinancing transaction and will end as soon as the nominal value of the 2020/2023 bond reaches EUR 125 million or less due to the contractually guaranteed repayments.
Lars Schriewer expressed his satisfaction: “This ensures that our company is well-positioned financially for the long term. I am also looking forward to working with Dr. Gordon Geiser. Together with a great team, we will continue to successfully shape the future of ACCENTRO.”
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in housing privatization in Germany. As of September 30, 2022, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major cities and metropolitan areas in central Germany as well as the Rhine-Ruhr metropolitan region. ACCENTRO’s business activities encompass three core areas: the sale of apartments to private owner-occupiers and 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 services for third parties. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de
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