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.
Home Market Berlin
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.
Well-Filled Pipeline, Robust Locations
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.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a listed residential property company. Its core business consists of tenant-sensitive housing privatisations. The company's subsidiary ACCENTRO GmbH is the market leader for housing privatisation services in Germany. In addition to Berlin, current project and property locations include Leipzig, Hanover, Hamburg and – since July 2017 – Cologne.
ACCENTRO Real Estate AG has its registered office in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German securities code number [WKN]: A0KFKB).
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