The Grounds acquires another residential property in the surroundings of Berlin
- Purchase of a residential park with 24 residential units and eight garage parking spaces in Kremmen
- Located directly adjacent to the Sana Clinic
- Property is intended for the fixed assets portfolio of The Grounds
Berlin, 16 July 2021 – By acquiring a residential park in Kremmen, The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has already invested in Berlin’s out-skirts for the fourth time within the current financial year. The newly-acquired property with a plot size of 13,445 m2 comprises four buildings with 24 residential units. The area also contains eight garages and adequate parking spaces. The intention is to keep the property in the company’s fixed assets.
The houses were constructed in 1960 and are in a good technical state. Modernisation measures affecting on each occasion the façades, windows, riser pipes, entrance doors, balconies, staircases with doorbells and intercom systems, together with the outdoor facilities with tenants’ gardens, were carried out in 1995 and 2014.
The residential park is located directly adjacent to the Sana Clinic, whose more than 500 employees are thus potential next tenants for any individual residential units that may become free.
Within the surroundings of Berlin, the characteristic features of Kremmen are its good regional and supra-regional transport links, especially via the A10 motorway and rail network. Public passenger transport connects Kremmen to Oranienburg, approx. 20 km away. The distance to Berlin’s city boundary is around 38 km, and the Berlin main rail station can be reached via public transport in less than one hour.
Jacopo Mingazzini, a member of the Management Board of The Grounds, says: “The surroundings of Berlin are currently experiencing a boom, stimulated not only by Berlin’s tight housing market but also increasingly by the attraction of the surrounding communities themselves. The purchase of the residential park in Kremmen is already the fourth acquisition we have made in the outskirts of Germany’s federal capital in the current financial year. Factors favouring the
purchase in this particular case were its good transport connections, the good structural condition of the buildings, and the location directly alongside one of the region’s most renowned and traditional clinics. In addition, there are the generally attractive framework conditions for real estate property investors in Berlin’s affluent suburbs, which will also continue to be the special focus when building up our fixed assets portfolio in the future.”
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Board Members
Charlottenstrasse 79-80, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
About The Grounds
The Grounds Group realises housing projects in German metropolitan regions. In addition, The Grounds Group holds a steadily growing residential portfolio as fixed assets. The Grounds Real Estate Development AG is listed in the Düsseldorf Stock Exchange's OTC segment Primärmarkt (ISIN: DE000A2GSVV5), has its seat in Berlin and an office in Stuttgart.