The Grounds Real Estate Development AG agreed to acquire Residential property in Berlin-Lichtenberg.

The Grounds Real Estate Development AG, formerly Netwatch AG, is a Germany-based company active in the real estate sector. The Company focuses on purchasing, project development, and investment of residential property. It provides also management consultancy services, including property and asset management. It diversifies the operating activities into three business segments: Investments, which includes investments as portfolio holders of residential property; Development, which includes purchase und implementation of real estate project developments of residential and special property, such as student and retirement housing, and Trading, which includes acquisition of residential and commercial property or portfolios with short-term value creation potential. The Company serves customers in Germany.