The company currently manages 10 condominiums in Eastern Germany and has approximately 50 apartments, totalling 4,500-5,000 sqm, in its portfolio.
After listing, it aims to acquire 100,000 sqm of residential real estate, around 2,500 apartments. The company is targeting an annual growth of 10,000 sqm, which requires significant capital investment. It has plans to acquire the status of a local form of a real estate investment trust (Reit).
CEO and board chairman Imre Vida said Available’s properties are not directly owned by it, but are managed by its fully-owned German subsidiary, Estaine, and therefore the revenues are also generated by this company.
Available has HUF 318 mln of share capital and HUF 778 mln of equity and had HUF 5 mln of after-tax profit last year, public records show.
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