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Aroundtown, GCP shares rise on LEG Immobilien investment

By Reuters News08:03 (UTC), 21 October 2026 Updated

** 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%

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