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 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