Berlin, 23 December 2020 – ACCENTRO Real Estate AG, an investor in residential real estate and Germany’s leading housing privatisation company, just sold a real estate portfolio in Bayreuth and the city’s greater area to an institutional investor. The portfolio comprises 189 units and has a lettable area of around 11,000 square metres. It was agreed not to disclose the selling price.
ACCENTRO extensively refurbished and modernised the properties in recent years. Works included the replacement of façades, roofs and heating systems. In addition, balcony systems were added in some places, and community areas such as stairwells and outside facilities overhauled. In the case of vacant flats, the interiors were also refurbished.
“This successful transaction highlights ACCENTRO’s wide spectrum of deliverables. Purchasing the properties, which are situated in sought-after locations, and subsequently modernising and refurbishing them enabled us to create attractive residential accommodation for their tenants. At the same time, projects like this one offer great investment opportunities for institutional buyers who consider residential real estate in Germany a stable and sustainable investment type,” commented Lars Schriewer, CEO of 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). investors.accentro.de
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