The Grounds Real Estate Development AG has invested in another project to develop micro-apartments in the immediate vicinity of the universities in Leipzig, only a few days after the successful acquisition of a project development for an apartment building in Magdeburg city centre.
Berlin, 7 March 2018. A few days after a purchase in Magdeburg, The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) is already further rounding out its strongly growing portfolio in the area of project development for micro-apartments and furnished accommodation by acquiring another project development in Leipzig.
Land in a central location at Bornaische Strasse 10 – 16 in Leipzig and thus in the immediate vicinity of the Universities of Applied Sciences and Telecommunications has been acquired as a site for the construction of a micro-apartment building.
Approximately 136 micro-apartments with a total living/usable area of 3,013 m² and an investment volume of approx. EUR 11 million will come into existence here. Entitlement to build already exists, which is why construction is expected to start as early as July 2018. This project is being implemented as a joint venture with a well-known Leipzig property developer. It is suitable for both sale and subsequent portfolio holding by The Grounds Development AG.
Leipzig, which is still Saxony’s most populous city ahead of Dresden, the state capital, has distinguished itself for nearly 20 years by a positive development in its number of inhabitants, with a steadily growing proportion of students. Approx. 15,000 students are currently studying at the two universities located close to the project alone. Leipzig’s economic development in the past few years has also been strong, and the mood regarding the economic situation is now better than ever before.
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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