ACCENTRO Increases Condominium Sales by 98%
- 135 units sold for 51.4 million euros during Q1
- March 2021 is the most successful month for individual sales in the company's history
- Pipeline for individual sales well filled with half a billion euros in selling value
Berlin, 17 May 2021 - ACCENTRO Real Estate AG, a residential real estate investor and Germany's leading housing privatisation company, just concluded a successful first quarter for its housing privatisation business. During the first three months of the year, 135 residential units were retailed to tenants, owner-occupiers and buy-to-let investors. The sales added up to 51.4 million euros, thereof 32.3 million euros in March alone. This makes March 2021 the most successful month for individual sales in the annals of ACCENTRO. Overall, the first quarter of 2020 was clearly exceeded. During last year's reference period, 95 units had been sold for 26.0 million euros.
In addition, ACCENTRO's existing pipeline for individual sales is well filled and comprises properties in a prospective selling value of approximately half a billion euros. These have already been lawfully partitioned into condominiums and are therefore exempt from the recently enacted Development Land Release Act that applies to residential real estate in "strained housing markets." The pipeline assets will form the basis for ACCENTRO's continued successful business development in the years to come.
"Our success in the housing privatisation business reflects the faith that condominium buyers have in ACCENTRO. But it also showcases our sales strength and the quality of our products," said Lars Schriewer, CEO of ACCENTRO Real Estate AG. "The keen interest shown by retail condominium buyers despite the coronavirus crisis is simultaneously a signal to politics to keep subsidising homeownership. The demand for condominiums is as strong as it's ever been," Schriewer adds.
"ACCENTRO is superbly positioned on the market. We are developing into a broad-based residential property investor who is building up a proprietary nationwide portfolio parallel to the privatisation business," Schriewer added. Just recently, ACCENTRO managed to fully place a 100-million-euro bond. Sole investor was a major pension fund.
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 East 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 condominiums 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 condominium 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:
ACCENTRO Real Estate AG
Tel. +49 (0)30 - 88 71 81 272
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