Corporate | 4 May 2015 09:37

Accentro Real Estate AG sells Residential Property Portfolio in Berlin-Hohenschönhausen

Accentro Real Estate AG / Key word(s): Contract/Disposal

2015-05-04 / 09:37

PRESS RELEASE

ACCENTRO Real Estate AG Sells Residential
Property Portfolio in Berlin-Hohenschönhausen

– ACCENTRO collects 51.5 million euros in liquid funds

– Sales proceeds to be reinvested in privatisation portfolio

– Acquisitions in Berlin and other metropolises announced

Berlin, 04 May 2015 – The Berlin-based residential property company ACCENTRO Real Estate AG successfully divested itself of its equity interest in a company owning a residential property portfolio in Berlin-Hohenschönhausen, thereby laying the ground for its own continued growth. The residential portfolio sold consists of a total of 1,174 units with a usable area of 76,386 square metres and currently generates an annual net rent of 4.6 million euros. ACCENTRO derived a tidy profit of 13.1 million euros from the sale, which will probably contribute to earnings in the second quarter of 2015. On top of that, the company will collect liquid assets totalling 51.5 million euros. “We will use the funds for the consistent expansion of our portfolio of residential units earmarked for privatisation,” said Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG.

Expanding the Housing Privatisation Business
“We are planning to boost the growth of our company by acquiring residential portfolios whose units are suitable for socially responsible retailing to private investors and owner-occupiers,” said Jacopo Mingazzini. While the intended investment destination is primarily Berlin, investments in other housing markets are conceivable as well. “Homeownership is an absolutely trendy subject for private investors, but also for owner-occupiers,” Mingazzini went on to say. The persistently low level of interest rates makes a condominium affordable for more and more people. In addition, the deteriorating rates of return for classic savings schemes such as savings accounts or government bonds have prompted people to shift their focus to real estate on a massive scale. For ever widening sections of the population, homeownership is now becoming a sensible way to supplement the personal retirement schemes in addition to pensions and other other old-age arrangements. “Historically speaking, we are therefore moving within a very positive market environment with our housing privatisation business line, and we have every intention to expand it in order to serve the persistently high demand.”

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).

Media and Public Relations Contact:
Andy Dietrich
Deputy Head of Media and Communication Consultancy
Dr. ZitelmannPB. GmbH
Rankestrasse 17
D-10789 Berlin
E-mail: dietrich@zitelmann.com
Tel.: +49 30 – 72 62 76 153
Fax: +49 30 – 83 62 76 1793

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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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart

End of News DGAP News-Service

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