Aroundtown falls after FY results, offer to raise stake in Grand City Properties

Grand City Properties SA

04/03/2026 09:19

** Shares of Aroundtown AT1.DE, one of Germany's largest listed landlords, fall around 2% after it reported full-year results and launched an offer to raise its stake in subsidiary Grand City Properties GYC.DE, which jumps around 3%

** Aroundtown said it made an exchange offer for up to 47,451,773 Grand City Properties shares, which would raise its ownership stake to up to 89.5% from the current 62%

** Jefferies analysts doubt the offer will succeed at the offered premium of about 7%, saying Grand City Properties shareholders will likely not be thrilled to be exposed to Aroundtown, which has higher leverage and is more dependent on offices

** Aroundtown's annual results saw a key metric, FFO I, land at the low end of its guidance, while 2026 outlook was below market expectations, Jefferies writes

** With vacancies rising, offices were a key weak point of the results, the brokerage adds

(Reporting by Marleen Kaesebier)

((marleen.kaesebier@thomsonreuters.com))