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DGAP-News: The Grounds Real Estate Development AG
/ Key word(s): Real Estate
CORPORATE NEWS The Grounds continues expansion in Berlin's outskirts with another purchase - Acquisition of 27 apartments and 12 garages in Fürstenwalde - Properties are being taken into the fixed assets of The Grounds Berlin, 29.03.2021 - The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has continued its expansion in Berlin's outskirts with another purchase of residential property in Fürstenwalde. On the plot measuring around 14,000 m2 and acquired from a private vendor, there are two almost structurally identical apartment blocks with a total of around 1,550 m2 of living space distributed between 27 two- and three-room apartments. The plot also contains twelve garages and several outdoor parking spaces. The two fully cellared three-storey residential buildings each have two entrances, and were erected in solid stone-built construction in 1964. Modernisation measures between 1996 and 2000 included extensive insulation work, among other things, and the heating installations and windows of the apartments were replaced. A photovoltaic system was also installed in 2009. The plot is situated only a few metres from the city boundary of Fürstenwalde. The Grounds intends to hold the property in its own fixed assets and possibly to utilise the densification potentials arising from the generously-dimensioned plot size at a later date if appropriate. Jacopo Mingazzini, a member of the Management Board of The Grounds, says "We are delighted that after the acquisition of a residential park in Bernau in January, and only around two weeks after our purchase in Eberswalde, we were again able to acquire a residential park in the outskirts of Berlin for our fixed assets. Whereas residential building in Berlin has stagnated for years, the surrounding area is enjoying demand growth, stimulated equally by the housing shortage in Berlin and by economic stimuli in Berlin's affluent suburbs. Tesla's siting in Grünheide and the opening of the new airport in Schönefeld are examples of this, each of which will lead to further companies locating in the area and will ensure a corresponding housing demand in the region." Fürstenwalde is the most densely populated city in the Oder-Spree district, as well as being an important economic and administrative centre. The city has numerous shopping facilities, restaurants and medical establishments, day nurseries, schools and cultural offerings. Both the Berlin Ring Road (A10) and Germany's capital are quickly reached via the A12 autobahn running in an east-west direction quite nearby. These, combined with Federal Highway 168 running north-south, ensure the location's outstandingly good regional and supra-regional transport links. From here, BER Airport and the newly-emerging TESLA Gigafactory are just as easy to reach as Bad Saarow and Lake Scharmützelsee. Company contact:
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.
29.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | |
| Internet: | |
| ISIN: | DE000A2GSVV5, DE000A3H3FH2 |
| WKN: | A2GSVV, A3H3FH |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Tradegate Exchange |
| EQS News ID: | 1179016 |
| End of News | DGAP News Service |
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1179016 29.03.2021
