Kronberg International is disposing of its majority holding in three real estate portfolios in Germany

  • Investment and asset manager is selling shares to Adler Real Estate
  • Real estate portfolio comprises 1,906 residential and commercial units
  • Disposal is taking place due to the fact of early increases of asset values

Berlin, 27.11.2013. Kronberg International S. A., Luxembourg has sold the majority of its shares in S.I.G. RE B.V., Amersterdam. The company owns three residential and commercial real estate portfolios in Germany. The buyer of these shares is the publicly listed property company Adler Real Estate AG, Hamburg. The rest of the shares will remain with Prelios Netherlands, Amsterdam. Kronberg had acquired its investment at the beginning of this year. The sale of the three property portfolios was structured as a share deal. Kronberg were advised by the international corporate lawyers of OLSWANG.

The portfolios, which are divided into three German special purpose entities, comprise 1,769 residential and 137 commercial units in North Rhine-Westphalia, Saxony and Northern Germany. The total value of the three portfolios is about 113 million euros. The properties in North Rhine-Westphalia are located in Düsseldorf, Cologne and other towns in the Ruhr area; those in Saxony are in Dresden, Leipzig and Chemnitz among others, while those in Northern Germany are situated in Lübeck, Kiel and Rostock. Kronberg CEO Dr. Martin Hellweger: “A continuing high demand for residential property made an early divestment possible. That enabled us to realize our targeted increases in asset values earlier than expected.”
Kronberg’s current property portfolios, which are held either in sole ownership or in joint ventures with other national and international investment partners are now reduced to approximately 3,000 units. Explaining the investment strategy of the company, owner and CEO Dr. Martin Hellweger says: “Kronberg’s strategy is to continue expanding our real estate portfolio by means of further targeted acquisitions within a medium-to-long-term investment horizon.”

Press Contact:

Kronberg RE Deutschland GmbH
c/o RUECKERCONSULT GmbH Nikolaus von Raggamby

Wallstraße 16; D-10179 Berlin
Phone: +49 (0)30 2844987-40
Email: vonraggamby [at] rueckerconsult [dot] de

Kronberg RE Deutschland GmbH
Dr. Martin Hellweger
Ziegelstrasse 24; D-10117 Berlin Phone: +49 (0)30 20 61 635-0
Email: info [at] kronberg-international [dot] com

About Kronberg International S.A.
The Kronberg Group is an investment and asset-management enterprise operating throughout Europe. Investments are focussed on Germany, Austria, France and Italy. The Kronberg Group invests in single properties and stocks of real estate with development potential, either individually or along with international investment partners such as Prelios S.p.A. (Milan), conwert Immobilien Invest AG (Vienna) and Versorgungswerk der Ärztekammer für Steiermark (Graz). The Kronberg Group has thereby specialized in three fields of business: Investment & Co-Investment, Asset Management and Development. Its Chief Executive Officer is Dr. Martin Hellweger, who founded the business in the year 1989. Kronberg’s current residential real-estate portfolios, including its individual holdings and those acquired in joint ventures with both national and international investment partners, thereby comprise around 3,000 units. The strategy pursued by Kronberg is to increase its property stocks by means of further targeted acquisitions within a medium-to-long-term investment horizon.

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