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Accentro Real Estate AG / Key word(s): Real Estate
ACCENTRO: Transaction of around 100 Million Euros Successfully Signed
Berlin, 18 November 2021 - ACCENTRO Real Estate AG ("ACCENTRO"), an investor in residential real estate and Germany's leading housing privatisation company, today 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).
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.
Notifying person: Thomas Eisenlohr, Head of Investor Relations
Information and Explanation of the Issuer to this News:
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
18-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Accentro Real Estate AG
+49 (0)30 - 887 181 - 0
+49 (0)30 - 887 181 - 11
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