Report
Markus Schmitt

Accentro Real Estate AG : A niche “concrete gold” alternative facing coronavirus headwinds

>Strengths / Opportunities - Germany is a safe haven for real estate investors, which becomes more of a focus again given increased macroeconomic concerns due to coronavirus, albeit transaction volumes will be depressed in the short-term; the current liquidity overhang after refinancing helps.Accentro’s strategy to roll-out its business model into other metropolitan areas would help lower Berlin concentration.Berlin still benefits from net migration, albeit ...
Underlying
Accentro Real Estate AG

Accentro Real Estate AG. ESTAVIS AG is a Germany-based holding company active in the real estate sector. The Company business operations comprise domestic properties, focusing mainly on commercially attractive locations in Germany. Its activities include acquisition, modernization and sale of residential properties. The Company business model is particularly based on residential property. ESTAVIS AG's operations are divided into two segments: Trade, which comprises buying and selling of residential properties and individual apartments, especially retailing of apartments to owner occupiers and investor within the framework or retail privatizations of housing portfolios; and Portfolio, in which the Company takes advantage of its acquisition network to identify housing portfolios with high value-added potential, and exploits its management know-how to raise potential and to ensure cash-flows from the management of the acquired portfolios. As of December 31, 2011, the Company operated 42 subsidiaries.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Markus Schmitt

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