ESTAVIS AG Acquires around 300 Flats in Berlin, Earmarked for Privatisation
Berlin, 07 July 2014 – ESTAVIS AG continues to expand its housing stock that is earmarked for privatisation through its subsidiary Accentro GmbH. The real estate company spent approximately 15 million euros to buy up 294 residential units in Berlin's Lichtenberg borough. The total residential area is around 17,400 square metres. A number of schools, crèches and shopping venues are located within walking distance. The closest rapid transit station and tram stop are just minutes away.
"This latest acquisition once again underscores our strategy to expand our proprietary housing stock for privatisation purposes. The apartments are in very good repair, and perfectly suited, given their excellent location within Berlin, for private investors and owner occupation," said Jacopo Mingazzini, Member of the Management Board of Estavis AG.
Estavis AG is a listed property company focusing on residential properties. The company buys up selected housing portfolios for the purpose of managing them long-term. Accentro, a subsidiary of Estavis and the company's second mainstay, is Germany's market leader in housing privatisations as a service. Estavis AG is headquartered in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB).
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