Report
Manuel Martin, CEFA,CREA

Accentro Real Estate AG : Notarized disposal volume without transfer of ownership during Q1 gives a promising indication for the future revenues over the rest of the year

>We updated our model on Accentro keeping our estimates unchanged - We updated our model on Accentro, including the company´s expanding activities as a residential landlord besides still being mainly active in the privatisation business. Its investment property portfolio increased to a GAV of € 251.5m by the end of Q1 2021 from € 46.5m by the end of Q3 2020 vs an inventory property portfolio for its privatisation business worth € 417.7m as of Q1 2021. We keep our esti...
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
Manuel Martin, CEFA,CREA

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