UK Markets close in 4 hrs 10 mins
  • FTSE 100

    7,255.96
    -35.24 (-0.48%)
     
  • FTSE 250

    23,574.62
    +140.55 (+0.60%)
     
  • AIM

    1,236.75
    -10.13 (-0.81%)
     
  • GBP/EUR

    1.1873
    +0.0006 (+0.05%)
     
  • GBP/USD

    1.3497
    -0.0003 (-0.0216%)
     
  • BTC-GBP

    42,772.55
    +1,706.68 (+4.16%)
     
  • CMC Crypto 200

    1,402.14
    -65.80 (-4.48%)
     
  • S&P 500

    4,704.54
    +15.87 (+0.34%)
     
  • DOW

    35,870.95
    -60.10 (-0.17%)
     
  • GOLD FUTURES

    1,861.20
    -0.20 (-0.01%)
     
  • NIKKEI 225

    29,683.09
    +84.43 (+0.29%)
     
  • HANG SENG

    25,319.72
    -330.36 (-1.29%)
     
  • DAX

    16,221.73
    -29.40 (-0.18%)
     
  • CAC 40

    7,141.98
    -14.87 (-0.21%)
     

ACCENTRO: Transaction of around 100 Million Euros Successfully Signed

  • Oops!
    Something went wrong.
    Please try again later.
·4-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DGAP-News: Accentro Real Estate AG / Key word(s): Real Estate
19.11.2021 / 08:30
The issuer is solely responsible for the content of this announcement.

ACCENTRO: Transaction of around 100 Million Euros Successfully Signed

- Transaction comprises around 730 units

- Purchase and sale of several residential real estate portfolios

- Forecast for 2021 confirmed


Berlin, 19 November 2021 - ACCENTRO Real Estate AG ("ACCENTRO"), an investor in residential real estate and Germany's leading housing privatisation company, successfully signed a transaction for a total of around 730 units. The transaction includes the purchase and sale of several residential real estate portfolios. ACCENTRO acquires, among others, around 470 units in eastern Germany for its own rental portfolio. The integrated transaction with a private investor has an overall volume of around 100 million euros. It was agreed not to disclose the purchase prices of the various portfolios. The transfer of benefits and burdens is supposed to take place before end of this year.

At the same time, the Group confirms its forecast for the current 2021 financial year: Accordingly, revenues are expected to increase by up to around 60 % to somewhere between 170 and 200 million euros (prev. year: 125.2 million euros) and the EBIT by up to around 44 % to somewhere between 45 and 50 million euros (prev. year: 34.8 million euros).

Lars Schriewer, CEO of ACCENTRO, commented: "The transaction is yet another milestone in the development of ACCENTRO, and highlights the diverse performance of our company. On the one hand, we managed to acquire another attractive residential portfolio in eastern Germany and thereby to achieve yet another significant expansion of our own rental portfolio. On the other hand, we succeeded again in selling residential portfolios. This proofs that investor interest in German residential real estate as an asset class remains high."

Through the purchase, ACCENTRO significantly increases its real estate portfolio in eastern Germany once again. The acquired portfolio is in the Federal State of Saxony, and benefits from convenient transport links to the cities of Zwickau, Plauen and Hof. The units have a combined lettable area of around 27,000 square metres and offer considerable value-add potential which is to be exploited in the years ahead.

ACCENTRO has spent the past 12 months massively expanding its Germany-wide rental portfolio, which now totals around 3,600 units. The focus has been on selected cities in eastern Germany and North Rhine-Westphalia. Lars Schriewer elaborated: "The objective we pursue, in addition to our successful privatisation business, is the dynamic expansion of our own rental property portfolio, preferably in attractive B and C locations. We see an above-average potential specifically for such locations. This strategic orientation not only ensures a steady growth in rental income for the company. It also helps us achieve a perfect balance with our sales business."

 

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 eastern 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 apartments 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 apartment 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). www.accentro.ag


Investor Relations Contact:

Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstrasse 44/45
D-10625 Berlin
E-mail: eisenlohr@accentro.de
Tel. +49 (0)30 - 88 71 81 272


Press and Public Relations Contact:

Christian Dose
WMP EuroCom AG
Barckhausstrasse 1
D-60325 Frankfurt
E-mail: c.dose@wmp-ag.de
Tel. +49 (0)69 2475689491
Mobile: +49 (0)173 6679900

 


19.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Accentro Real Estate AG

Kantstr. 44/45

10625 Berlin

Germany

Phone:

+49 (0)30 - 887 181 - 0

Fax:

+49 (0)30 - 887 181 - 11

E-mail:

info@accentro.ag

Internet:

www.accentro.ag

ISIN:

DE000A0KFKB3

WKN:

A0KFKB

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1250226


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting