Residential real estate in large cities is considered a solid investment with easily calculable returns. Despite the introduction of a rent brake in many places – the urge to live in the (big) city continues to ensure high demand for rented apartments and a tendency towards rising rents. The Berlin real estate investor ACCENTRO Real Estate AG has practically doubled its current real estate portfolio with the acquisition of 2,800 units in eastern Germany. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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Purchase of apartments for the purpose of marketing
The acquired portfolio comprises 2,789 residential and 11 commercial units with a total area of 180,000 square meters. The properties are located in Berlin, Leipzig, Halle and Gera – prosperous East German cities. Berlin is a TOP 7 city and one of the real estate hotspots of the republic, Leipzig B-location. Halle and Gera are among the D locations. All of the apartments acquired by ACCENTRO have a good infrastructure environment and are conveniently connected to local and regional public transport. Good conditions for marketing.
ACCENTRO Real Estate has existed under this name since 2015 following the renaming of the former ESTAVIS AG. ESTAVIS was created in 2006 from two predecessor companies and went public in 2007. The history of ACCENTRO/ESTAVIS is characterised by numerous changes of ownership. The business model, which is based on residential privatisation, has remained the same. ACCENTRO acquires rental housing portfolios with the aim of converting them into condominiums. These are then sold to tenants, owner-occupiers and capital investors. Geographically, the investment focus is on Berlin and German metropolitan regions such as Hamburg, Rhine-Main, Rhine-Ruhr and Leipzig. The current investment fits in seamlessly here. Since 2018, ACCENTRO has also been involved in new residential construction projects in cooperation with project developers.
Source: Immobilien Zeitung Picture source: Unsplash