German housing developer Grounds Real Estate Development said it has added two properties to its portfolio.

The listed firm has acquired the two properties in Bernau and in Dallgow-Döberitz for an undisclosed amount.

The property in Bernau comprises a residential park built in 1997 and comprising 59 apartments offering around 4,070sqm of rentable area. The Dallgow-Döberitz asset is a terrace of houses with a total of 28 rented houses built there in 1997 on a 7,200sqm site and which The Grounds intends to privatise.

Jacopo Mingazzini, a member of the management board of The Grounds, said: “These two most recent new acquisitions already enabled us to seamlessly continue our previous year’s high growth dynamic following on soon after the year-end. As well as these individual features and micro-locations, the demographic trends in Berlin’s ‘affluent suburbs’ are another most important aspect in favour of these two locations.

”For about two years, we have already observed that Berlin’s approximately 15-year population growth phase seems to be at an end, instead of which more people are again settling in the federal capital’s closer surroundings.

”Due to the continuing inadequacy of new residential construction in Berlin, the surrounding region will probably become increasingly attractive as a residential and investment location in the future.”

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