10 12 2020

ACCENTRO Doubles its Inventory in North Rhine-Westphalia once more

Berlin, 10 December 2020 – ACCENTRO Real Estate AG, a residential real estate investor and Germany’s leading housing privatisation company, is significantly expanding its real estate portfolio in the important German Rhine-Ruhr metropolitan region. The acquired portfolio consists of 166 units in the cities of Duisburg, Krefeld and Hagen, and has a combined lettable area of around 13,000 square metres. By moving ahead with this acquisition, the company almost doubled its real estate inventory in the state of North Rhine-Westphalia to 355 units.

“We are developing ACCENTRO into a German residential investor who, in addition to its established privatisation business, builds up its portfolio and seizes opportunities as they present themselves. Since we already bought one portfolio of properties in Duisburg and Essen this past summer, the latest acquisition implies another significant expansion of our presence in the prominent Rhine-Ruhr region,” commented Lars Schriewer, CEO of ACCENTRO Real Estate AG. Home to more than ten million residents, it is Germany’s most populous metro region.

The properties of the acquired portfolio are almost fully occupied and located in central inner-city locations. The portfolio also offers good potential for development, which ACCENTRO will leverage to further improve the quality of living for existing and new tenants.

Lars Schriewer added: “Despite the tough circumstances created by the coronavirus pandemic, we acquired 3,482 units with a lettable area of around 230,000 square metres this year to date. Doing so enabled us to expand our company’s footprint in important regions like Bavaria, North Rhine-Westphalia, several East German metro regions as well as Berlin while more than doubling our real estate inventory, which now counts 5,200 units. They will serve as foundation for the continued pursuit of our successful growth trajectory.”

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).

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