The Grounds Real Estate Development AG acquires residential building with densification potential in Berlin-Lichtenberg

DGAP-News: The Grounds Real Estate Development AG / Keyword(s): Real Estate

The Grounds Real Estate Development AG acquires residential building with densification potential in Berlin-Lichtenberg

31.08.2022 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

CORPORATE NEWS

The Grounds acquires a residential building with densification potential in Berlin-Lichtenberg

– Existing residential building of 22 residential units and building permits
for attic extension and yard landscaping

– Popular residential area in Weitlingkiez with very good transport links

– The transfer of the portfolio to fixed assets and the sale of the newly created apartments are planned

Berlin, 31.08.2022 –The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) yesterday signed the purchase agreement for the acquisition of a residential building in Berlin-Lichtenberg. A building with 22 apartments currently stands on the land. The property also offers potential to create further residential units.

Four attic apartments will be created at roof level of the existing building through suitable extension measures. Another residential building with 23 residential units and a rental area of ​​approx. 1,620m2 are also being built in the yard. Construction work has already started.

The Grounds intends to retain the existing residential building with 22 apartments in its existing portfolio, while the four newly created penthouse apartments and 23 residential units in the new building are to be offered for sale to owner occupiers and equity investors.

The property is located in a quiet street with very good transport links to the center of Berlin. S-bahn and U-bahn trains, as well as Berlin-Lichtenberg station, are within walking distance, and the U-bahn journey time to Alexanderplatz is just 15 minutes. Featuring Wilhelminian-style buildings, Weitlingkiez is a residential area that has grown in popularity in recent years and offers a wide range of restaurants and cafes.

Jacopo Mingazzini, member of the Board of The Grounds, says: “The residential land convinced us mainly by its attractive location, its existing densification potential and the building rights already created. We are sure that the newly built penthouses and apartments will attract strong interest from owner-occupiers and equity investors.”

Company details :
The Grounds Real Estate Development SA
Arndt Krienen/Jacopo Mingazzini, members of the board of directors
Charlottenstrasse 79 – 80, 10117 Berlin, Germany
Such. : +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
Email: [email protected]
Web: www.thegroundsag.com

Investor Relations:
UBJ GmbH
Ingo Janssen, Managing Director
House of the Wirtschaft, Kapstadtring 10
22297 Hamburg, Germany
Such. : +49 (0) 40 6378 5410
Email: [email protected]
Web: www.ubj.de

Press contacts:
RUECKERCONSULT GmbH
Pierre Dietze-Felberg
Wallstraße 16
10179 Berlin, Germany
Such. : +49 (0) 30 284 49 87 62
Email: [email protected]
Web: www.rueckerconsult.de

About the land

The Grounds Group implements residential projects in German metropolitan areas. The Grounds Group also holds a steadily growing residential portfolio in its fixed assets. Grounds Real Estate Development AG is listed in the upper free market segment of the Düsseldorf Stock Exchange’s primary market (ISIN: DE000A2GSVV5) and has its headquarters in Berlin and an office in Stuttgart.

31.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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