The Grounds Real Estate Development AG sells the “Ammergaustrasse Apartment Block” project development in Oldenburg
Berlin, 6 June 2019. The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) has sold its project development in Oldenburg to a local investor. The project in Ammergaustrasse was sold as scheduled in the context of an asset deal. The purchaser and vendor have agreed confidentiality regarding the purchase price amount.
In August 2017, The Grounds Real Estate Development AG acquired the 1,617 m² site, already built on at that time, and in December 2018 a building permit was granted in the framework of project design and the existing buildings demolished.
The Grounds Real Estate Development AG sees the successful sale of this project development as validation of its business model.
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.