04.05.2015
Accentro Real Estate AG DE000A0KFKB3
DGAP-News: Accentro Real Estate AG sells Residential Property Portfolio in Berlin-Hohenschönhausen
DGAP-News: Accentro Real Estate AG / Key word(s): Contract/Disposal
Accentro Real Estate AG sells Residential Property Portfolio in
Berlin-Hohenschönhausen
04.05.2015 / 09:37
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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: [email protected]
Tel.: +49 30 - 72 62 76 153
Fax: +49 30 - 83 62 76 1793
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04.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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: [email protected]
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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