The Grounds Real Estate Development AG sells a major project at Terminal 3 in Zeppelinheim
Berlin, 24 September 2019. The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) has successfully sold its shares in the major project at Terminal 3 in Zeppelinheim, thus achieving one of the milestones announced for 2019. The hotel project at Frankfurt Airport’s Terminal 3, currently under construction, was sold in the context of a share deal. The parties agreed to keep the purchase price confidential.
Building permit applications for the Terminal 3 hotel were submitted to allow the start of construction to be scheduled for 2020. Completion is planned to take place when Terminal 3 is brought into operation. The site area is 8,400 m², on which 244 rooms with an associated underground car park will be constructed.
As a departure from the original planning, the transfer of rights and obligations, and thus also the effect on turnover, will already take place for the current 2019 financial year.
Moreover, The Grounds is in concrete sales discussions relating to other projects.
The company will publish its group figures for the first six months of 2019 in the near future.
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.