18 12 2019

ACCENTRO Sells Housing Estate on Berlin’s Periphery for 43.5 Million Euros

Berlin, 18 December 2019 – ACCENTRO Real Estate AG sold a housing estate located in the town of Blankenfelde-Mahlow just beyond Berlin’s city limits in Brandenburg to an institutional investor.

The sold houses were raised in 1984 and extensively modernised in 2018-2019. Overall, the property divides into 260 flats with a combined lettable residential area of around 16,000 square metres. There are also 210 parking spots on the grounds.

“We have focused for some years now on the periphery of Berlin. The sale of this asset represents our biggest transaction in the city’s gravy belt,” elaborated Jacopo Mingazzini, the CEO of ACCENTRO Real Estate AG. “Closing this transaction will cause us to exceed our EBIT targets, so that we expect to top the existing record mark of just over 40 million euros.”

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, Rhine-Main 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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