Berlin, 26 August 2020 – ACCENTRO Real Estate AG, the leading German housing privatisation company, continues to enlarge its real estate portfolio in Rhine-Ruhr, Germany’s important metro region. The acquired portfolio consists of 101 units in the cities of Essen and Duisburg and has an aggregate lettable area of 7,320 square metres. As a result of the acquisition, the company doubled its property stock in the state of North Rhine-Westphalia to 216 units.
Essen and Duisburg count among the largest cities in the Rhine-Ruhr metro region, with more than 10 million residents the most populous one in the country. Analogously, the University of Duisburg-Essen with around 40,000 enrolled students is one of the leading German universities.
The units of the portfolio acquired are fully occupied and located in central inner-city locations, benefiting from excellent infrastructure and close proximity to campus. On top of that, the portfolio is characterised by good development potential that we intend to exploit, thereby enhancing the quality of living for existing and new tenants alike.
Lars Schriewer, CEO of ACCENTRO Real Estate AG, commented: “With the acquisition of this attractive property stock, we are bolstering our market position in North Rhine-Westphalia and successfully continuing on our growth trajectory. In the time since early 2019, we acquired a total of 1,200 units in Berlin and other major German conurbations. We will use the coming months to continue the expansion of our real estate portfolio and to seize attractive opportunities along the way.”
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is Germany’s market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or—bundled into portfolios—to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers—including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is 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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