The Grounds Real Estate Development AG sells micro-apartments project in the Gutleut district of Frankfurt for EUR 21.5 million
Berlin, 21 December 2018. The Grounds Real Estate Development AG (ISIN DE000A2GSVV5), a project developer clearly focused on trading in residential properties in Germany and their sustainable management, has successfully sold for around EUR 21.5 million, in the context of an asset deal, land for a planned four-storey micro-apartment complex (short stay residential accommodation, commercial use) situated in the Gutleutstrasse district of Frankfurt. The purchaser is a project developer in the Rhein-Ruhr region.
The 5,683 m² of land in a central location in the immediate vicinity of Frankfurt’s main rail station was acquired by The Grounds in September 2017. Grant of a building permit for the micro-apartment complex including underground car parking, the provision of restaurants, conference rooms and a fitness studio, is expected in early 2019. The start of construction is also scheduled for the coming year.
The Grounds Real Estate Development AG
Management Board Chairman
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.