The Grounds Real Estate Development AG sells micro-apartments project in Leipzig for EUR 13.35 million
Berlin, 24 October 2018 - The Grounds Real Estate Development AG (ISIN DE000A2GSVV5), a project developer clearly focused on trading in and sustainably managing residential properties in Germany, has successfully disposed of the planned micro-apartments student accommodation building in a city location in Leipzig for EUR 13.35 million in a forward deal. The purchaser is a German institutional investor that has acquired the project for one of its funds.
In March 2018, together with the experienced joint venture partner KSW GmbH, Leipzig, The Grounds acquired 1,317 m² of land in the immediate vicinity of the Colleges of Technology, Business and Culture and of Telecommunications. The Grounds expects to complete the furnished micro-apartments building with 136 residential units and 2 commercial units with 3,135 m² of living/usable area in 2020. Preparations for building have already started in the past few months.
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
About KSW GmbH
KSW GmbH is a project developer in the premium segment, focusing on properties in the best locations in Leipzig. KSW places the greatest importance on the individuality of its projects. Wood, glass, natural stone, stainless steel and state-of-the-art communications and lighting technology are used, as are alternative low-energy concepts. KSW constructs its own building projects, but also renovates heritage-listed properties in Leipzig city centre. Carefully and in close consultation with the monuments protection authority, KSW redevelops the valuable structural fabric of bygone times for present-day requirements. Thus KSW takes responsibility for the city landscape and creates buildings that will endure into the future, thereby contributing substantially to improving the quality of life in the urban area, where KSW has been able to rescue from decay many valuable historic structures that had been neglected or already abandoned.
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.