Renta Corporación reinforces its Berlin presence with new investments

Renta Corporación reinforces its Berlin presence with new investments

. The company, which has opened a new office in Berlin, has agreed to buy four new buildings in the German capital

Renta Corporación’s Berlin business continues to make steady progress. Since it decided to extend its international growth to the German capital – following Paris and London – in February 2006, the company has been growing in size and consolidating its business.

Renta Corporación has reached an agreement to purchase four new buildings in the city centre, three of them in the city’s main avenue, Kaiserdamm. All but one of them are residential buildings. The residential buildings include over 150 dwellings in an area of over 20,000 square metres, which the company will refurbish to bring them in line with the demands of the current market. The fourth building is currently being used for offices but, in view of its excellent location near the Berlin exhibition centre, the company is working on a project to turn it into a hotel. These four operations involve a planned investment of some 20 million euros.

Over 40 million euros invested in Berlin.- Since Renta Corporación started operating in Berlin in February 2006, the company has so far invested over 40 million euros in the German company. In just year, Renta Corporación has conducted a total of 10 operations in Berlin, almost all of them in residential buildings.

Renta Corporación opens a new office.- Given the rate of activity which Renta Corporación is experiencing in the German capital, and consistently with the process conducted by it in other European capitals, the company has decided to open an office in a “market which is attractive due to its size and vitality”, the company explained. The office, located at 58 Friedrichstraβe, the city’s nerve centre, will be headed by the executive Antoni Guarner, an industrial engineering graduate with a Master’s Degree from the IESE business school. Antoni Guarner joined Renta Corporación in late 2005 to manage and develop the company’s business in Germany.

Paris, London and Berlin, Renta Corporación’s three pioneering international markets.- Renta Corporación’s international activities started in Paris 5 years ago and were later extended to London and Berlin. In the two latter markets, the company is gaining an increasingly significant level of business, and aims to reach similar levels to those of the French capital. Renta Corporación already has a good presence in Paris, where it has invested over 250 million euros since its first operation in 2002. The international market currently accounts for approximately one third of its turnover, and the company is planning to increase this proportion in future, in line with its strategic plans.
The building which houses Renta Corporación’s Berlin office, at 58 Friedrichstrasse

One of the buildings acquired by Renta Corporación in Berlin city centre, in Kaiserdamm
Barcelona, 19 february 2007