Grounds Real Estate Dev.

The Grounds Real Estate Development has agreed with a fund managed by H.I.G. Capital to convert the EUR 17m bond issued in 2023/2024 into a hybrid bond. The term has been changed to perpetual, repayments will be made only at the company’s initiative, collateral has been removed and the bond is structured as subordinated. As a result of the conversion, the bond will be recognised as equity in the IFRS consolidated financial statements. » Más en finanzen.net

The Grounds Real Estate Development AG has signed contracts to take over asset management for companies of the insolvent Ziegert group on behalf of the H.I.G. Capital group and will provide services for around 1,100 units with a GAV of approximately EUR 660 million. The company confirms group revenue of between EUR 9 million and EUR 11 million for 2025 and a break-even group EBIT; the new asset-management business is expected to contribute more than EUR 3 million in net revenue and over EUR 1 million in EBIT and to offset negative effects from a disputed improvement note (Besserungsschein). » Más en finanzen.net