Accentro - comment
The asset sale and the appointment of Katja Bielke as CEO are positive for the bonds. She is one of the executives who joined in Feb 2026, after bondholders took control. She has experience working for Lone Star and Apollo, which will help in dealing with financial holders. Bielke will continue in her current role of CIO.
Accentro has sold 614 units in Gera/Zwickau to an institutional buyer. No price was given, but we expect proceeds were €17m - €20m; 24,300sqm lettable/614 units => 40sqm per unit, sale price of €700 per sqm = €28k => €17m. Some better apartments may have been included to bump up the final price.