- Minority interest in residential portfolio with 321 units in prime locations in Hamburg
- Privatisation of 193 units planned via ACCENTRO’s distribution platform
Berlin, 9 March 2018 – ACCENTRO Real Estate AG, (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, a leader in residential privatisation in Germany, has entered into a joint venture to acquire a 321-unit residential portfolio in prime Hamburg locations. In course of the joint venture ACCENTRO will privatise 193 units of the portfolio. In this way, ACCENTRO significantly strengthens its position in one of the most attractive German residential property markets.
Expansion of presence in an attractive real estate market
ACCENTRO’s participation in the joint venture secures access to promising privatisation properties. The joint venture partners are renowned, internationally active real estate investors. “We are participating in a highly attractive portfolio and consistently continuing our nationwide expansion with this joint venture. With this promising cooperation we do not only benefit from the investment income but also from the sales orders,” explains Jacopo Mingazzini, member of the Executive Board of ACCENTRO. “I am pleased that we are now also able to significantly expand our commitment in Hamburg, as this real estate market offers excellent opportunities,” Mingazzini concludes.
Privatisation inventory in top locations in Hamburg
The portfolio with a total area of almost 30,000 square metres is divided into twelve residential buildings in the Hamburg districts of Eppendorf, Harvestehude, Winterhude, Neustadt and Uhlenhorst. The portfolio offers potential for revised usage and roof constructions which will be realized in course of the privatization process.
ACCENTRO already has a consulting office in Hamburg. As part of the joint venture investment, the sales team is to be further strengthened and the company’s presence in the Hanseatic city is to be expanded. In addition to its head office in its home market of Berlin, the residential privatiser has a network of consulting offices in Hamburg, Hanover, Leipzig and Cologne. With a privatisation portfolio of around 3,000 residential units, the company is the market leader in residential privatisation in Germany.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG, listed on the stock exchange, is the market leader in residential privatisation in Germany. ACCENTRO generates additional revenues through portfolio sales and marketing apartments for institutional investors and project developers. In addition to its home market of Berlin, the company concentrates on metropolitan regions such as Hamburg, Cologne, Dusseldorf, Rhine-Main region, Leipzig, Hanover or Bonn. ACCENTRO Real Estate AG is listed in the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3).
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