The Grounds acquires more residential property in Berlin’s outskirts
- Cluster of 38 residential units and 22 garages in Eberswalde
- Purchased to expand fixed assets
Berlin, 12.03.2021 – The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has acquired further residential property in the outskirts of Berlin from a private seller. It involves three residential parks with 38 residential units and a total of 2,066 m2 of rentable space built close to the town of Eberswalde in 1974 to 1984. The Grounds intends to keep the residential park in its own fixed assets, and may realise existing medium-term densification potentials.
Jacopo Mingazzini, a member of Management Board of The Grounds, says, “The new acquisition perfectly complements our residential park acquired in Bernau in late January. The two portfolios are situated just under 30 km apart, are optimally linked via the A11, and both benefit from the great economic dynamism in Berlin’s surroundings and simultaneous low building activity in Berlin, which is still not nearly enough to cover the existing demand. Consequently, rents in the surroundings have been increasing for years, and we see rather a current increase in this trend, which will receive a further boost due to the siting of the Tesla facility. We continue to align our purchasing strategy in this direction.”
Eberswalde is the district capital of Barnim administrative district, bordering directly on Berlin to the northeast. The town is important not only as the region’s administrative centre, but at the same time as the site of a college and clinic, and the location of various companies in different sectors of industry. Due to the nearby route of the A11 motorway together with several federal and state highways, its inland port and its function as the intersection of two railway lines, Eberswalde has very good regional and transregional traffic connections.
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Board Members
Charlottenstrasse 79-80, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
About The Grounds
The Grounds Group realises housing projects in German metropolitan regions. In addition, The Grounds Group holds a steadily growing residential portfolio as fixed assets. The Grounds Real Estate Development AG is listed in the Düsseldorf Stock Exchange’s OTC segment Primärmarkt (ISIN: DE000A2GSVV5), has its seat in Berlin and an office in Stuttgart.