The Grounds Real Estate Development AG takes over Capstone Opportunities AG, Berlin, in the course of a non-cash capital increase
- 9% of the shares are being acquired against the issue of 2,700,000 new shares from authorised capital
- Expansion of the project development portfolio with a total investment volume (TIV) of EUR 104 million to over EUR 400 million
Berlin, 16 July 2020 – The Management Board and Supervisory Board of The Grounds Real Estate Development AG (The Grounds) resolved yesterday to take over the majority of Capstone Opportunities AG, Berlin, against the issue of new shares.
Capstone Opportunities AG specialises in the acquisition, project development and sustainable management of real estate in Germany. With a business model comparable to that of The Grounds, it has at its disposal several very promising projects in Hesse, North Rhine-Westphalia and Saxony-Anhalt, for the majority of which development rights have already been secured. Total investment volume (TIV) up to turnkey construction of the project developments, aimed at both residential and commercial use, amounts to EUR 104 million. Implementation of the projects is expected within the next three years.
The capital measure increases the share capital of The Grounds by EUR 2,700,000 to 17,805,517. The new registered shares will carry dividend rights as of 1 January 2020. Through the contribution of Capstone Opportunities AG to The Grounds, existing major shareholders increase their stake in The Grounds, thus confirming their commitment to the growth-oriented company.
Commenting on this, Arndt Krienen, Management Board member of The Grounds, says: “I am pleased that we are now bringing together the two companies with identical business models, and have thus created the basis for further growth. With a combined total investment volume (TIV) of the two companies of over EUR 400 million, we reach the necessary visibility on the capital market, thus opening up new financing options for us for further purchases, both in the project development segment and to enlarge our existing portfolio.”
For reasons of safety due to the Covid-19 pandemic, this year’s Ordinary General Meeting will take place in Berlin on 28 August 2020 without the physical presence of the shareholders.
The Grounds Real Estate Development AG
Arndt Krienen, Thomas Prax, Management Board
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