Corporate | 5 January 2015 13:41

ESTAVIS AG Renamed ACCENTRO REAL ESTATE AG as of Today

Accentro Real Estate AG / Key word(s): Miscellaneous

05.01.2015 / 13:41

– Entire commercial real estate portfolio sold off

– Proceeds earmarked for further expansion of privatisation portfolio

– Excellent housing privatisation sales performance in 2014

Berlin, 05 January 2015 – ACCENTRO Real Estate AG is consistently implementing the company’s shift in focus to the privatisation sector. In accordance with a resolution passed by its annual general meeting on 27 November 2014, the former ESTAVIS AG has just been renamed ACCENTRO Real Estate AG. In a parallel development, the commercial real estate portfolio was sold for approximately 16.4 million euros in late December. “Our realignment is making excellent progress,” said Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. “The capital freed by the sale of our commercial property portfolio will be mainly used for the consistent expansion of our privatisation portfolio.” Despite ongoing sales activities, ACCENTRO Real Estate AG intends to steadily increase its proprietary stock of residential property earmarked for privatisation.

Announcing Acquisitions in Berlin and its Greater Metro Area
“In 2015, we will step up our efforts to acquire suitable residential portfolios and condominium packages, especially in Berlin, for our continued expansion. But we are also aware of great opportunities in other metro regions, such as Hamburg, Rhine-Main, Cologne-Bonn, and Munich,” Mingazzini elaborated. The idea is also to acquire additional housing privatisation mandates as third-party service provider. The company’s subsidiary ACCENTRO GmbH is the German market leader in this field. “2014 was a very good year, with 1.029 apartments from our current assets sold,” said Mingazzini. “At the start of the year, with a massive reduction in the business of our biggest service mandate on our hands, we were not sure it could be done.”

He went on to say that the objective now is to keep raising the sales figures at a steady pace. The effort will include boosting the sales network outside Germany. “As it is, we are selling condominiums to buyers from more than 40 different countries,” Mingazzini noted. “We also manage to sell more than three out of four apartments in an occupied state to private investors.”

About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a listed residential property company. Its core business consists of socially responsible housing privatisations. Through its subsidiary ACCENTRO GmbH, the company is Germany’s market leader in apartment retailing as a third-party service. ACCENTRO Real Estate AG is also active in the proprietary trading of residential units it acquires expressly for the purpose.

ACCENTRO Real Estate AG has its registered office in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB).

Contact:
ACCENTRO Real Estate AG – Investor & Public Relations – Tel: + 49 30 887 181 799 – E-Mail: ir@accentro.ag

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Language:	English
Company:	Accentro Real Estate AG
	Uhlandstr. 165
	10719 Berlin
	Germany
Phone:	+49 (0)30 – 887 181 – 0
Fax:	+49 (0)30 – 887 181 – 11
E-mail:	info@accentro.ag
Internet:	www.accentro.ag
ISIN:	DE000A0KFKB3
WKN:	A0KFKB
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart

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