The Grounds Real Estate Development AG acquires land in a central location in Magdeburg to develop its own project
Berlin, 20 February 2018. In connection with a project development in the Greater Berlin area, The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) has already acquired another property a few weeks after the purchase of a logistics park.
The land in a central location in Halberstädter Strasse, Magdeburg, will be used as a further project development for micro-apartments and furnished accommodation. Apartments with a total living area of approx. 4,000 m² are planned, together with 30 underground car parking spaces. The investment volume for the land and building is around EUR 10.50 million. The right to build exists for the property, and corresponding building applications are currently being prepared.
The property is suitable for both sale and subsequent portfolio holding by The Grounds Development AG. Other attractive acquisitions of land in the project development area are currently being examined.
Magdeburg, the capital city of the State of Sachsen-Anhalt, has shown a positive development in population numbers since 2012, and is an aspiring growth city.
The Grounds Real Estate Development AG
Leipziger Platz 3, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
Haus der Wirtschaft, Kapstadtring 10
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
Acquisition, project development and sustainable residential property management
The Grounds Group focuses on buying and developing residential property and, as a full-service provider for the business areas Investment (including property and asset management), Development and Trading, they have made it their goal to provide affordable living space for different life stages. The emphasis is on residential property, particularly also special real estate such as student and retirement living in German metropolitan regions and attractive locations such as aspiring outskirts in Germany. As a portfolio holder their medium-term aim is to establish a significant high quality real estate portfolio at a magnitude of EUR 500 million through investments and in-house development, allowing stable profits together with attractive dividend payments to The Grounds shareholders. The Grounds seeks to position themselves as one of the leading German real estate companies by creating added value within the scope of housing development and subsequent development of market capitalisation.
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