DGAP-News: ACCENTRO acquires 682 units and grows rental portfolio by around 20 percent

2022. július 04., hétfő, 08:30







DGAP-News: Accentro Real Estate AG


/ Key word(s): Real Estate






ACCENTRO acquires 682 units and grows rental portfolio by around 20 percent








04.07.2022 / 08:30




The issuer is solely responsible for the content of this announcement.




ACCENTRO acquires 682 units and grows rental portfolio by around 20 percent



  • Transaction offers considerable upside potential

  • Acquisition of attractive portfolio in eastern Germany

  • Total rental portfolio grows to around 4,300 units

  • Portfolio in Rostock sold

 



Berlin, 4 July 2022 – ACCENTRO Real Estate AG, a residential real estate investor and Germany’s leading housing privatisation company, has once again significantly expanded its rental portfolio. This brings the company closer to its strategic goal to keep boosting its cash flow and profitability through its rental portfolio.



The attractive rental portfolio of 682 units located in eastern Germany was acquired by ACCENTRO from a private investor within the framework of a share deal. At the same time, the company sold a portfolio of 28 units in Rostock to the same investor. It was agreed not to disclose the transaction value.



Lars Schriewer, CEO of ACCENTRO Real Estate AG, explained the great strategic significance of the purchase: “This acquisition is another milestone in line with our strategy to establish the rental business as an extra business line in addition to the privatisation of apartments. Buying this attractive portfolio implies another significant enlargement of our rental portfolio by around 20 percent to nearly 4,300 units now. The increase in rental income raises our positive cash flow and perfectly complements our successful privatisation business as well as our expanding service business. We expect the growth in our rental portfolio to seriously enhance our profitability in the medium term. At the same time, the transaction demonstrates our ability to bolster the market position of ACCENTRO even under challenging conditions.”



Further expansion of housing stock in attractive locations in eastern Germany



The purchased apartments are located in an economically emerging and scenically attractive region with considerable recreational benefits between Magdeburg and Halle. The portfolio has a lettable area of around 39,000 square metres while its vacancy rate of 27 percent points to a high value-add potential. “It very nicely complements our existing rental housing stock in eastern Germany,” added CEO Lars Schriewer.



Previously, ACCENTRO already picked up several portfolios with a combined total of around 3,000 units in the region in 2020 and 2021. The apartments in the German states of Saxony, Saxony-Anhalt and Thuringia are located in attractive regions and catchment areas near the cities of Magdeburg, Halle, Leipzig, Chemnitz and Dresden.



 



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 4,900 units as of 31 December 2021. In addition to Berlin, regional focal points include eastern German cities and conurbations, as well as the Rhine-Ruhr metro region. The business activity of ACCENTRO comprises three core divisions. They are the tenant-sensitive retailing of apartments to private owner-occupiers and buy-to-let investors as well as the selling of real estate portfolios to institutional investors, and the build-up and management of a proprietary real estate portfolio, plus the provision of services for third parties. 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.de



 



Investor Relations Contact:



Thomas Eisenlohr

ACCENTRO Real Estate AG

Kantstrasse 44/45

D-10625 Berlin

E-mail: eisenlohr@accentro.de

Tel. +49 (0)30 - 88 71 81 272



 



Press and Public Relations Contact:



Christian Dose

WMP EuroCom AG

Barckhausstrasse 1

D-60325 Frankfurt

E-mail: c.dose@wmp-ag.de

Tel. +49 (0)69 2475689491

 

















04.07.2022 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.
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Language: English
Company: Accentro Real Estate AG

Kantstr. 44/45

10625 Berlin

Germany
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info@accentro.ag
Internet: www.accentro.ag
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1389455





 
End of News DGAP News Service





1389455  04.07.2022 



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