Berlin, 21 August 2025 – As previously announced in the ad hoc announcement dated 16 June 2025, The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A40KXL9) has concluded agreements to take over asset management on behalf of the H.I.G. Capital Group for companies belonging to the insolvent Ziegert Group. These companies hold a total of around 1,100 residential and commercial units with a gross asset value (GAV) of around EUR 660 million. The Grounds will provide all asset management services for the companies concerned in future, particularly in the areas of sales, construction management, accounting and financing.
For the 2025 financial year, The Grounds continues to anticipate consolidated revenue of between EUR 9 million and EUR 11 million and balanced consolidated EBIT. The reason for this is that the gross profit contribution from the debenture for the logistics properties in Hangelsberg included in the forecast for 2025 is in question as a result of a dispute with the buyer over the content. However, according to current estimates, the resulting negative effects on earnings can be offset by the newly added asset management services business. This is expected to generate net revenue of more than EUR 3 million and a positive EBIT contribution of more than EUR 1 million in 2025.
Company contact:
The Grounds Real Estate Development AG
Jacopo Mingazzini, Management Board
Zimmerstraße 16, 10969 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
E-mail: info@tgd.ag
Web: www.thegroundsag.com
– End of the ad hoc announcement –
