Accentro Real Estate AG

Regulatory Filings • Mar 3, 2014

News Details

Corporate | 3 March 2014 09:30

ESTAVIS AG: ESTAVIS AG Expands its Germany Residential Portfolio Nationwide

DGAP-News: ESTAVIS AG / Key word(s): Real Estate

03.03.2014 / 09:30

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• 76 residential units purchased in Berlin, and earmarked for privatisation
• Housing portfolio with 186 residential units acquired in Chemnitz and
  Neubrandenburg for long-term ownership

Berlin, 3 March 2014 - Estavis AG is expanding its residential portfolio
in the East German states. In Berlin, the housing company bought four
multi-dwelling properties with a combined total of 76 residential units,
which are intended for the company's privatisation business. The apartments
of one to four bedrooms will be resold to private investors and
owner-occupiers as condominiums. "The purpose of acquiring these properties
is to strengthen our strategy of boosting our proprietary apartment
retailing business while also offering privatisation as a third-party
service through our subsidiary Accentro. In Berlin, we are active on an
excellent market with a high demand for condominiums," said Jacopo
Mingazzini, Member of the Management Board of Estavis AG.

Estavis AG also purchased additional residential units for its portfolio
division. The new portfolio includes a total of 186 residential units in
Neubrandenburg and Chemnitz. "What impressed us about the assets is
specifically their high structural quality and their low vacancy rate.
Either location shows an attractive development and generated stable
revenues," said Torsten Cejka, another Member of the Management Board of
Estavis AG. The investment volume for the new apartments with a total
residential floor area of about 11,935 sqm equals approximately 6.5 million
euros, while the annual rental income currently amounts to 622,607 euros,
and the vacancy rate is around 9 percent. "In Chemnitz, our subsidiary J2P
Real Estate with its superior sensibility for housing management serves as
our reliable partner on the ground," Cejka went on to say.

About Estavis:
Estavis AG is a listed property company focusing on residential properties.
The company buys up selected housing portfolios for the purpose of managing
them long-term. Accentro, a subsidiary of ESTAVIS and the company's second
mainstay, is Germany's market leader in housing privatisations as a
service. Estavis AG is headquartered in Berlin and is listed on the Prime
Standard of the Frankfurt Stock Exchange (German Securities Code Number
[WKN]: A0KFKB).

Contact:
ESTAVIS AG
Investor & Public Relations
Tel.: + 49 30 887 181 799
E-mail: ir@estavis.de

Dr. ZitelmannPB. GmbH
Holger Friedrichs
Tel.: + 49 30 72 62 76 157
E-mail: friedrichs@zitelmann.com

End of Corporate News

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Language: English
Company: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Germany
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info@estavis.de
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart

End of News DGAP News-Service

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