AroundTown management’s comments reflect further confidence in both the property markets and specifically in the real estate funding market. This renewed

As tends to be the case with residential real estate companies, quarterly movements are smaller than for other corporates. Like-for-like rental growth came in

Please find our updated analysis on AroundTown here and its subsidiary, Grand City Properties, here. 

As part of our process of re-examining the Heimstaden capital structure, we have also updated our analysis of Grand City Properties and AroundTown. 

AroundTown released its Q1 results this morning, reflecting continued positive momentum. While the pace of disposals was slightly below our expectations, the company remains

Grand City Properties continues to benefit from robust fundamentals in the German residential market, where supply shortages and broader

Please find our updated analysis of Grand City Properties here.

As the title suggests, this update is mere housekeeping as Grand City Properties returns to normality. Credit risks for the name have pivoted away