Accentro Real Estate AG

Regulatory Filings • Nov 8, 2012

News Details

Corporate | 8 November 2012 16:10

ESTAVIS AG: Estavis Subsidiary Accentro on Track for Record-Setting Condo Sales

ESTAVIS AG / Key word(s): Real Estate

08.11.2012 / 16:10

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• 1,047 apartments sold by the end of October 2012
• Significant increase over previous year-end total
• One of every three condominium buyers hails from abroad
• Acquisition of another portfolio including 63 apartments

Berlin - Accentro, a subsidiary of Estavis AG, is right
on track with its effort to make 2012 a banner year. By the end of October,
the company had sold a total of 1,047 apartments to private investors and
owner-occupiers. This means that the total number of apartments retailed
last year, which is 921, has clearly been exceeded already. 'We are heading
for a third record result in as many years,' explained Jacopo Mingazzini,
Head of Accentro. One third of the buyers hail from abroad, mostly from
Italy but also from Russia, France and Spain. Indeed, buyers from 36
different nations purchased condominiums from Accentro in 2012. 'For
foreign investors, Germany represents a safe haven against the background
of the economic crisis in the respective country of origin,' Mingazzini
went on to say. 'Internationally speaking, Berlin offers affordable sales
prices and a high potential for rental growth,' Mingazzini added.

He added that Accentro's privatisation portfolio includes a total of around
3,500 apartments in Berlin alone. 'As far as we know, this makes us the
market leader in this segment in Berlin,' said Mingazzini. Estavis recently
spent approximately five million euros on a residential real estate
portfolio including 63 apartments in Berlin, which is earmarked exclusively
for retail sales. Just recently, Accentro prematurely renewed the
collaboration with the GSW housing company, having already signed a new
cooperation agreement with TAG Immobilien.

The booming apartment retailing business constitutes a powerful revenues
mainstay for Estavis, contributing substantially to a positive business
performance aside from helping to set up a proprietary high-yield
portfolio. Most recently, Estavis acquired a real estate package in Berlin
for its own portfolio at a bargain price of 110 million euros. Estavis, a
listed property company, thus boosted the revenue power for both of its
strategic mainstays while continuing on its growth course.

About ESTAVIS:
Estavis AG is a listed property company focusing on residential properties.
Through its purchasing network, which extends throughout Germany, Estavis
AG identifies property portfolios with great value-added potential, and
uses its management expertise to harness this potential efficiently. In
addition to regular cash flow from the property portfolio acquired, Estavis
AG develops its performance from income from privatisation proceeds.
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

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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