CORPORATE NEWS

The Grounds acquires residential property with densification potential in Berlin-Lichtenberg

- Existing residential building with 22 residential units and building permits
for attic extension and courtyard development

- Popular residential area in Weitlingkiez with very good transport links

- Transfer of portfolio to fixed assets and sale of newly-created apartments are planned

Berlin, 31.08.2022 –The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) signed the purchase contract to acquire a residential property in Berlin-Lichtenberg yesterday. An apartment block with 22 apartments is currently on the plot. The property also offers potential to create further residential units.

Four attic apartments will be created in the roof storey of the existing building through appropriate extension measures. Another residential building with 23 residential units and a rentable area of approx. 1,620 m² are also being constructed in the courtyard area. Building work has already started.

The Grounds intends to retain the existing residential building with 22 apartments in its existing portfolio, while the newly created four penthouse flats and 23 residential units of the new building are to be offered for sale to owner-occupiers and capital investors.

The property is located in a quiet side street with very good transport connections to the centre of Berlin. S-bahn and U-bahn trains, and Berlin-Lichtenberg rail station, are within a few minutes' walking distance, and the U-bahn journey time to Alexanderplatz is only 15 minutes. Featuring Wilhelminian style buildings, Weitlingkiez is a residential area that has gained great popularity in recent years, and offers a wide range of restaurants and cafés.

Jacopo Mingazzini, a member of The Grounds’ Management Board, says: "The residential plot convinced us mainly due to its attractive location, existing densification potential and building rights that have already been created. We are sure that the newly-built penthouses and apartments will attract keen interest from owner-occupiers and capital investors alike."

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:
Web:

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

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

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 listed 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.