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The Grounds Real Estate Development AG ​​​​​​​sells 319 student apartments in Leipzig and Magdeburg

·3-min read

DGAP-News: The Grounds Real Estate Development AG / Key word(s): Real Estate
02.03.2021 / 08:00
The issuer is solely responsible for the content of this announcement.

The Grounds sells 319 student apartments in Leipzig and Magdeburg

- Successful closing of the sale of 138 student apartments in Leipzig to an institutional investor

- A further 181 student apartments in Magdeburg have already been sold to private investors

- Marketing for a privatisation project in Berlin-Pankow has begun

Berlin, 02.03.2021 - The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has sold two student accommodation buildings in Leipzig and Magdeburg with a total of 319 apartments. The property in Leipzig has more than 138 residential units and a total usable area of 3,136 m2. It is centrally located in the Connewitz district, which is popular with students. The student accommodation building was sold to an institutional investor as part of a global sale; closing took place in late February.

Moreover, the last of the apartments in the "Lenné Quartier" student accommodation building in Magdeburg planned by The Grounds were also sold in late February. Construction of this project with 181 apartments has already started, and completion is expected in the fourth quarter of 2022. The sale took place through individual marketing to private investors. The property is located in the immediate vicinity of Magdeburg's Old Town.

Individual marketing of the property in Berlin Pankow that was acquired for privatisation in late 2021 also began at the end of February. The Grounds expects that the majority of the apartments will have been sold by the end of the current year.

Jacopo Mingazzini, a member of the Management Board of The Grounds, says "The successful sale of both of the buildings in Leipzig and Magdeburg confirms that our concepts are correct. Future users will benefit equally both from the specific qualities of the properties with regard to facilities and customising, and from the attractive locations within the two university towns, which are also political, economic and cultural centres."

The Grounds Management Board member Arndt Krienen adds: "With the two projects in Leipzig and Magdeburg, we have proved the performance efficiency of The Grounds as a project developer. Through the recent successfully concluded placing of our convertible bond, we also created the conditions required to expand our development pipeline in the coming months."

Company contact:
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Management Board members
Charlottenstrasse 79-80, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
E-mail: info@thegroundsag.com
Web: www.thegroundsag.com

Investor relations:
UBJ GmbH
Ingo Janssen, Management Director
Haus der Wirtschaft, Kapstadtring 10
22297 Hamburg, Germany
Tel.: +49 (0) 40 6378 5410
E-mail: ir@ubj.de
Web: www.ubj.de

Press contact:
RUECKERCONSULT GmbH
Peter Dietze-Felberg
Wallstrasse 16
10179 Berlin, Germany
Tel.: +49 (0) 30 284 49 87 62
E-mail: dietze@rueckerconsult.de
Web: www.rueckerconsult.de

About The Grounds

The Grounds Group implements residential projects in German metropolitan regions. The Grounds Group also holds a steadily growing residential portfolio in its fixed assets. The Grounds Real Estate Development AG is quoted in the upper free market segment of Düsseldorf Stock Exchange's primary market (ISIN: DE000A2GSVV5), and has its headquarters in Berlin and an office in Stuttgart.


02.03.2021 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:

The Grounds Real Estate Development AG

Charlottenstraße 79-80

10117 Berlin

Germany

Phone:

030 2021 6866

Fax:

030 2021 6489

E-mail:

info@thegroundsag.com

Internet:

www.thegroundsag.com

ISIN:

DE000A2GSVV5, DE000A3H3FH2

WKN:

A2GSVV, A3H3FH

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Tradegate Exchange

EQS News ID:

1172087


 

End of News

DGAP News Service

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