04 07 2013

ESTAVIS Housing Privatisation Concludes H1 2013 with Record Result

  • 461 apartments sold during the first six months
  • According to preliminary figures, the result increased by more than 40% year on year
  • Result from proprietary property sales grew by 200 percent according to preliminary figures

Berlin, 04 July 2013 – Accentro, the ESTAVIS AG subsidiary for housing privatisations, just reported another record result as it presented its mid-year figures for 2013. During the first six months of the ongoing year, the Berlin-based company sold a total of 461 apartments, 79 percent thereof in Berlin. “Condominiums remain subject to an unchecked popularity among private investors,” said Jacopo Mingazzini, Member of the Board of ESTAVIS AG and Managing Director of Accentro GmbH. At the same time, demand from abroad is as high as ever. In fact, 21 percent of the buyers during the first semester of 2013 had their primary place of residence outside Germany. 

Disproportionate Growth in Proprietary Apartment Sales
The growth in sales of apartments held in the proprietary stock was particularly conspicuous. “Apartment retailing through Accentro represents the second mainstay of ESTAVIS. Selling units from our own privatisation stock will play an increasingly important role in the future,” elaborated Torsten Cejka, another Member of the Board of ESTAVIS AG. Moreover, the company acquired several new sales contracts with an aggregate sales volume of more than 26 million euros during the six opening months of this year.

Further Expansion Planned
Mingazzini announced that the company will continue to pursue its growth course during the remainder of 2013. “This year, we will bolster the own-account transactions above all,” he explained. “Together with partners, we acquired 126 apartments in Berlin’s Mitte district during the first semester, with the next acquisitions to follow soon.” To this end, Accentro appointed Marco Mendler to the Management Board as at 01 July 2013. Mendler, aged 40, previously handled the housing privatisation business of alt+kelber across Germany for roughly ten years. “Accentro is poised for swift growth,” as Mingazzini promised. 

About Accentro:
Accentro is a real estate service provider that specialises in the retailing of large housing portfolios. The company’s fortes include the socially compatible, tenant-oriented sales of large apartment holdings, in the exit-oriented asset management of housing portfolios, and in investment consultancy on any issue relating to these segments. In addition to its headquarters in Berlin, Accentro maintains a branch office in Stuttgart and additional projects offices all over Germany. Accentro is a member company of ESTAVIS AG. 

ESTAVIS AG is a listed property company focusing on residential properties. It is active in the two business lines of portfolio management and housing privatisation, and continuously expands these by acquiring interesting properties and portfolios. 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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