The Grounds acquires a residential complex in Fehrbellin
- 24 residential units with 1,503 m2 of total rentable area
- Purchase is for the existing portfolio
Berlin, 01.04.2022 – The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has acquired a plot of land with a residential complex in Fehrbellin (Brandenburg). Constructed in 1980, the building with three staircases comprises a total of 24 residential units with 1,503 m2 of total rentable area. There are also 15 car parking spaces on the plot.
Thanks to regular maintenance, the complex is in good technical condition and is fully occupied. The Grounds intends to hold the acquired real estate property in its own fixed assets on a long-term basis.
Fehrbellin is situated around 60 km northwest of Berlin and has good regional and transregional traffic connections. Several state highways cross the local authority area; the A 24 motorway (Berlin–Hamburg) can also be reached from Fehrbellin in a few minutes. Theodor Fontane’s town of Neuruppin with its numerous shopping opportunities together with leisure and cultural offerings is only 12 km away.
Jacopo Mingazzini, a member of the Management Board of The Grounds, says: “Fehrbellin is one of those communities in the state of Brandenburg which, although not in Berlin’s immediate affluent suburbs, are nonetheless popular residential towns with growth potential. As well as its good structural condition and attractive location, the main point in favour of the purchase of this real estate property was its long-term letting potential.”
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Management Board
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.