The Grounds acquires two residential real estate properties in the surroundings of Berlin
- Company continues growth pathway through additional purchased acquisitions
- Further build-up of existing and privatisation portfolios
- Properties are located in Bernau and Dallgow-Döberitz
- Area surrounding Berlin profits from the latest demographic trends
Berlin, 01.02.2021 –The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has acquired two additional residential real estate properties in Bernau and in Dallgow-Döberitz, thereby further expanding both its existing portfolio and its privatisation portfolio. The property in Bernau involves a residential park built in 1997 and comprising 59 apartments offering around 4,070 m2 of rentable area. There are also 64 car parking spaces on the 7,413 m2 of land, 32 of which are in the underground garage and 32 in the outdoor area. The Grounds intends to keep the residential park in its fixed assets.
A terrace of houses was also acquired in Dallgow-Döberitz, with a total of 28 rented houses built there in 1997 on a 7,200 m2 site and which The Grounds intends to privatise. The houses provide between 135 and 143 m2 of living space, and have additional areas in the basement and attic.
Both properties feature good transport links to Berlin, together with a well-developed infrastructure with extensive shopping facilities and public establishments such as day-care centres or schools. Although they are close to the city limit of Berlin, they are not within the region of the federal state of Brandenburg, so they are not affected by the Berlin rent cap regulation.
Jacopo Mingazzini, a member of the Management Board of The Grounds, says: “These two most recent new acquisitions already enabled us to seamlessly continue our previous year’s high growth dynamic following on soon after the year-end. As well as these individual features and micro-locations, the demographic trends in Berlin’s ‘affluent suburbs’ are another most important aspect in favour of these two locations. For about two years, we have already observed that Berlin’s approximately 15-year population growth phase seems to be at an end, instead of which more people are again settling in the federal capital’s closer surroundings. Due to the continuing inadequacy of new residential construction in Berlin, the surrounding region will probably become increasingly attractive as a residential and investment location in the future.”
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.