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DGAP-News: Accentro Real Estate AG / Key word(s): Real Estate
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
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
19.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Accentro Real Estate AG
+49 (0)30 - 887 181 - 0
+49 (0)30 - 887 181 - 11
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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