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The Grounds Real Estate Development AG gains joint venture partner for Börde Bogen project development in Magdeburg

·3-min read

DGAP-News: The Grounds Real Estate Development AG / Key word(s): Real Estate/Joint Venture
22.12.2021 / 14:25
The issuer is solely responsible for the content of this announcement.

CORPORATE NEWS

The Grounds gains joint venture partner for Börde Bogen project development in Magdeburg

- Stonehedge acquires 51% stake

- Around 67,882 m2 of gross floor area

- Attractive location with excellent infrastructure

Berlin, 22.12.2021 - The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) concluded a contract today for the sale of a majority holding of 51% percent of the shares in the project company for the Börde Bogen project development in Magdeburg. The purchaser of the shares is Stonehedge SHG 1. Beteiligungs GmbH in Berlin, which will implement the project in future together with The Grounds as a joint venture partner.

In the coming years, the construction of buildings with a gross floor area of around 67,882 m2 is planned on seven building sites on the plot of land totalling 39,145 m2 on Sieverstorstrasse / Ansbacher Strasse.

Jacopo Mingazzini, Management Board of The Grounds, says: "The fact that we were able to gain an equally experienced joint venture partner, Stonehedge, for the Börde Bogen project documents the attractiveness of the location and of the project, which benefits equally from its favourable location to the north of Magdeburg's old town and from the good infrastructure. We will invest the proceeds from the sale in the further growth of The Grounds."



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

Investor relations:
UBJ GmbH
Ingo Janssen, Managing 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.


22.12.2021 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@tgd.ag

Internet:

www.thegroundsag.com

ISIN:

DE000A2GSVV5, DE000A3H3FH2, DE000A3E5XU6

WKN:

A2GSVV, A3H3FH, A3E5XU

Listed:

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

EQS News ID:

1261288


 

End of News

DGAP News Service

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