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The Grounds Real Estate Development AG: he Grounds acquires another residential property in the surroundings of Berlin

DGAP-News: The Grounds Real Estate Development AG / Key word(s): Real Estate/Acquisition The Grounds Real Estate Development AG: he Grounds acquires another residential property in the surroundings of Berlin 16.07.2021 / 08:00 The issuer is solely responsible for the content of this announcement. CORPORATE NEWS

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, 16.07.2021 - By acquiring a residential park in Kremmen, The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has already invested in Berlin's outskirts 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.