Berlin, 06 June 2017 – The Berlin-based ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN DE000A0KFKB3) will take over a housing estate of 49 residential units in Cologne’s district of Niehl. “In addition to Leipzig, we are entering the market of another fast-growing city this year, elaborated Jacopo Mingazzini, the CEO of ACCENTRO Real Estate AG.
“The city is on record with a steadily growing economic plus a positive demographic trend, which makes it one of the most interesting major cities in Germany,” Mingazzini explained. Cologne’s fundamentals are outperforming. At the same time the homeownership rate remains very low, just like in the rest of Germany. “These are bright prospects for long-term growth,” said Mingazzini.
Current acquisitions concentrate primarily on central locations in Berlin. During the second quarter, ten properties in the districts of Prenzlauer Berg, Mitte, Schöneberg and Lichtenberg with a combined total of 197 units were purchased for an average price of €2,055/sqm. “Given the current market situation, we are quite pleased to have been able to acquire these houses at particularly favourable condition,” Mingazzini elaborated.
The pipeline of apartments earmarked for privatisation retailing is very well filled. By the key date of 31 December 2016, ACCENTRO’s current assets included a total of 2,422 flats. Another 1,085 residential units in Berlin, Leipzig and Cologne will be added to the portfolio in the ongoing financial year. The next acquisitions are close to signing.
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). investors.accentro.de
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