Ad-hoc notification in accordance with Article 17 of the Market Abuse Regulation
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The Grounds Real Estate Development AG has acquired, for its own property portfolio, a portfolio in Emden used mainly for residential purposes
Berlin, 20 December 2017. Today, through a subsidiary, The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) signed the purchase contract to acquire a portfolio in Emden (Lower Saxony) used mainly for residential purposes and with a rentable residential/usable area of around 9,600 m². The portfolio already offers short-term development potential. Investment costs amount to EUR 9.14 million.
The Emden portfolio is intended for the own long-term property portfolio, and with continuous rental incomes it will in future exert a correspondingly positive effect on The Grounds Group’s revenues and result.