150 units acquired in major metropolises
Total property portfolio in North Rhine-Westphalia (NRW) increases to 482 units
Berlin, 19 July 2021 – ACCENTRO Real Estate AG, a residential real estate investor and Germany’s leading housing privatisation company, has once again significantly expanded its property portfolio in North Rhine-Westphalia.
ACCENTRO is acquiring 150 units with a combined floor area of 9,525 square metres in the cities of Essen, Neuss, Duisburg and Wuppertal. The company thereby increases its real estate portfolio in the state of North Rhine-Westphalia by 45% from 332 up to now 482 units. The cities have a combined population of around 1.6 million and count among the most important metropolises in the state.
The acquisition represents another consistent step along the growth trajectory that ACCENTRO pursues in North Rhine-Westphalia. Just last year, the company obtained around 270 units, mainly in Essen and Duisburg, in two transactions.
126 units of the newly acquired portfolio are earmarked for the company’s proprietary rental portfolio. The rental portfolio in North Rhine-Westphalia, which is almost fully occupied, increases to 395 units with a combined floor area of around 28,000 square metres.
Lars Schriewer, CEO of ACCENTRO Real Estate AG, comments: “Through this acquisition, we are not only significantly expanding our market position in the leading cities of North Rhine-Westphalia. We also keep building up our own rental portfolio in attractive locations.”
“The transaction illustrates very well our strategy,” added Lars Schriewer. “On the one hand, we seek the geographical diversification of our portfolio concerning our letting and selling activities. On the other hand, and in addition to the attractive privatisation business, we are investing in our proprietary rental stock with the aim of developing it in ways that will enhance its long-term value for residents while steadily increasing the rental income for ACCENTRO at the same time. This combination enables us to optimally serve the German housing market with our products and services, and simultaneously to secure sustainably growing cash flows for the company.”
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential property investor and Germany’s market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of condominiums to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party condominium marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.ag
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