Corporate News

The Grounds Real Estate Development AG gain the operator for the hotel planned in the Bad Zwischenahn holiday/recreation region

Berlin, 25 February 2020. Die Palais am Meer GmbH & Co. KG, together with The Grounds Real Estate Development AG (ISIN DE000A2GSVV5), has been able to gain the trans-regionally acting hotel operator SEETELHOTELS / IHR as the future operator of the hotel and holiday complex on the former German federal armed forces hospital site in Rostrup/Bad Zwischenahn.

The family business has grown into an elegant hotel group with a portfolio of 17 houses, hotels, residences and villas, ranging from a comfortable three-star family resort to a five-star luxury hotel. In the future, the hotel group will now also open another establishment in Bad Zwischenahn from 2023 onwards.

While the landowners go to considerable expense to clear away site contamination and munitions from bygone days on the former armed forces hospital site to transfer the majority of the large area to landscape conservation and the planned building development as soon as possible, the future hoteliers led by Walter C. Neumann and Rolf Seelige-Steinhoff, in conjunction with the participating planning offices and the municipality of Bad Zwischenahn, are planning further steps on the way to the building development plan.

Finally, as the Palais am Meer GmbH & Co. KG’s CEO John Thiele reports, completion of the essential final work is expected by mid-2020, so nothing more stands in the way of the future building development.

 

Contact:
The Grounds Real Estate Development AG
Thomas Prax
Management Board Chairman
Leipziger Platz 3, 10117  Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
E-Mail: info@thegroundsag.com
Web: www.thegroundsag.com

UBJ. GmbH
Ingo Janssen
Managing Director
Haus der Wirtschaft, Kapstadtring 10
22297 Hamburg
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
E-Mai: ir@ubj.de
Web: www.ubj.de


Corporate information

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.

 

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