DGAP-News: Accentro Real Estate AG / Key word(s): Real Estate/Contract Accentro Real Estate AG: Acquisition of 364 Apartments in Berlin 11.05.2015 / 08:00 --------------------------------------------------------------------- PRESS RELEASE ACCENTRO Real Estate AG acquires 364 apartments in Berlin - Total investment volume around EUR 27.4 million - Properties located in Neukölln, Spandau, Friedenau, Zehlendorf, Reinickendorf and Alt-Tegel - Continuation of expansion strategy announced Berlin, 7 May 2015 - ACCENTRO Real Estate AG (ISIN/German Securities Identification Number - WKN: DE000A0KFKB3), Berlin, has laid the foundation for further growth in its core business. Last week, ACCENTRO notarised the acquisition of 364 residential units with total residential space of approximately 21,680 square metres. The units are intended for socially responsible residential privatisation. The properties are located in the Berlin districts of Neukölln, Spandau, Friedenau, Zehlendorf, Reinickendorf and Alt-Tegel.. The total investment volume amounts to approximately EUR 27.4 million. "All of the apartments are based in highly sought-after locations in Berlin. They represent reasonably priced housing, which is also affordable for existing tenants as owner-occupied properties. The offering is therefore aimed at both owner-occupiers and private investors," explains Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. "Owner-occupied property is the best form of provision for old age, particularly in the current climate of low interest rates." Further acquisitions planned ACCENTRO Real Estate had previously sold a residential portfolio in Hohenschönhausen at a high profit. The company receives proceeds of EUR 51.5 million in cash. "As announced, we are investing the funds in residential properties, which are extremely suitable for selling individually as owner-occupied apartments," says Mingazzini. "The new acquisitions are a good example of our investment strategy. We are looking for properties in the medium price segment in established locations in major German cities. One of our unique strengths lies in the socially responsible sale of properties to tenants and tenant-focused buyers," says Mingazzini. The privatisation measures will not change the situation for tenants who do not wish to buy their property. "When an apartment building is split up into apartments which can then be sold, in Berlin sitting tenants are protected for ten years against termination of tenancy due to the apartment owner needing the property for himself. Existing tenancy agreements remain unaffected," adds Mingazzini. About ACCENTRO Real Estate AG ACCENTRO Real Estate AG is a listed residential real estate company. Its core business is socially responsible and tenant-focussed residential privatisation. The subsidiary ACCENTRO GmbH is the market leader in residential privatisation as a service in Germany. ACCENTRO Real Estate AG has its registered office in Berlin and is listed in the Prime Standard of the Frankfurt Stock Exchange (German Securities Identification Number - WKN: A0KFKB). Press and PR contact: Andy Dietrich Deputy head of media and communications consultancy Dr. ZitelmannPB. GmbH Rankestraße 17 10789 Berlin E-mail: [email protected] Tel.: 030 - 72 62 76 153 Fax: 030 - 83 62 76 1793 --------------------------------------------------------------------- 11.05.2015 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, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 355295 11.05.2015