Aroundtown, GCP shares rise on LEG Immobilien investment

Grand City Properties SA

21/10/2026 09:03

** Shares in German real estate company Aroundtown AT1.DE rise 3.2% after it indirectly increased its stake in residential landlord  LEG Immobilien LEGn.DE 
** On Tuesday, Grand City Properties GYC.DE, in which Aroundtown is the majority shareholder, announced it had reached a 20.04% holding in LEG Immobilien 
** Aroundtown said it supports the move, adding that GCP could increase its stake to up to 29.9% of LEG Immobilien’s shares 
** Berenberg says German residential landlords remain substantially undervalued despite attractive fundamentals, but notes GCP could eventually alter its LEG stake as larger debt maturities approach
** Shares in Grand City Properties rise 2.8% whilst LEG Immobilien shares rise 2.3%
     
     

(Reporting by Basile Day)
((Basile.Day@thomsonreuters.com))