The Grounds
The Grounds Real Estate Development AG is a publicly listed Berlin-based residential property developer that builds, renovates, and holds German metropolitan housing — primarily in Berlin and Leipzig — for owner-occupiers and individual investors, and now also provides third-party asset management.
- Company typePublic
- Founded2007
- HeadquartersBerlin, Germany
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What The Grounds does
The Grounds Real Estate Development AG is a publicly listed German residential property developer headquartered in Berlin and traded on the Düsseldorf Stock Exchange's OTC segment Primärmarkt (ISIN: DE000A40KXL9). The company operates a three-pillar business: (i) property development of residential housing — including single-family homes, condominiums, and multi-family buildings — concentrated in Berlin, Potsdam, and Leipzig metropolitan regions, with a distinctive focus on renovating historic Gründerzeit-era buildings alongside new construction; (ii) a steadily growing fixed-asset residential rental portfolio that generates recurring rental income; and (iii) since August 2025, third-party asset management services following the takeover of asset management for companies in the insolvent Ziegert Group.
The company's product surface spans multiple Leipzig condominium developments (Christianstraße 25, Elsterstraße 48, Auguste-Schmidt-Straße 12, Schwarzackerstraße 11, Eisenbahnstraße 149), Berlin-area projects (Potsdam-Fahrland via Semmelhaack, Rauen, Schorfheide, Dallgow-Döberitz), and the Terra Homes sub-brand in Erkner-Hohenbinde, which delivers semi-detached energy-efficient smart homes featuring PVT collectors for combined electricity and heating, EV charging, and KfW-standard energy upgrades. Unit pricing is project-specific, with individual apartments ranging from approximately EUR 142,000 to EUR 870,000 across 26-172 m².
The Grounds is led by a two-person Management Board (Jacopo Mingazzini and Andrew Wallis) and a Supervisory Board chaired by Dr. Peter Maser. The company has 11-50 employees, financed its 2023/2024 expansion with a EUR 17 million corporate bond that was subsequently converted into a hybrid bond in December 2025, and serves two primary customer segments — owner-occupier families and individual property investors — through direct-to-consumer website sales and SEO-optimized property listings. Revenue is not publicly disclosed, and a significantly reduced consolidated loss in H1 2025 is the most recent operating signal.
The Grounds firmographics
Firmographics- Name
- The Grounds
- Legal name
- The Grounds Real Estate Development AG
- Website
- https://thegroundsag.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- The Grounds Real Estate Development AG is a publicly listed Berlin-based residential property developer that builds, renovates, and holds German metropolitan housing — primarily in Berlin and Leipzig — for owner-occupiers and individual investors, and now also provides third-party asset management.
- Ownership category
- akta.pro rank
The Grounds industry classification
Industry- Product category
- Residential Real Estate Development
- NAICS
- New Housing For-Sale Builders (236117), Real Estate Property Managers (53131)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
- akta.pro secondary industries
- Residential Real Estate Asset Management (BPAJAMAA), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)
Keywords
Where The Grounds is headquartered
LocationHeadquarters
- HQ city
- Berlin
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
The Grounds business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Property Development: The company develops residential properties in German metropolitan regions, particularly in Berlin and Leipzig, and sells them to end-users (owner-occupiers and investors).
- Fixed Asset Portfolio: The company holds a steadily growing residential portfolio as fixed assets, generating recurring income from rental operations.
- Asset Management Services: The company took over asset management for companies in the Ziegert Group (August 2025), expanding into third-party property management services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Residential condominiums in Leipzig (Schwarzackerstraße 11) |
| Unit Pricing | Pay-as-you-go | Residential condominiums in Leipzig (Elsterstraße 48) |
| Unit Pricing | Pay-as-you-go | Residential condominiums in Leipzig (Christianstraße 25) |
| Unit Pricing | Pay-as-you-go | Premium residential condominiums in Leipzig (Auguste-Schmidt-Straße 12) |
Distribution channels1 record
Marketing channels3 records
The Grounds product offering
Product offeringCore offering
The Grounds Real Estate Development AG is a Berlin-based real estate company that develops and sells residential properties in German metropolitan regions through two operating segments: Property Development (project-based new construction and sale of residential developments, mainly in Leipzig) and Portfolio Development under the Terra Homes brand (acquisition, modernization, and rental or sale of existing residential properties). The company also provides asset management services for the residential portfolio of third-party clients, notably the Ziegert Group.
Product overview
The Grounds Real Estate Development AG is a German residential property developer operating as a unified platform that combines property development services with portfolio management. The company develops housing projects across German metropolitan regions (primarily Berlin and Leipzig) and maintains a growing residential portfolio as fixed assets. The core offerings include Property Development (new housing construction) and Portfolio Development (existing asset management), with specific product lines such as Terra Homes (energy-efficient smart homes) and various residential property portfolios featuring historic building renovations in Leipzig and single-family homes in the Berlin metropolitan area.
Differentiator
Problem solved
Functional benefit
Products and services
- Property Development Project-based development and sale of new-build residential properties, primarily apartments, located in Leipzig and other German metropolitan regions; targeted at owner-occupiers and private property investors seeking newly built homes.
- Leipzig Schwarzackerstraße 11 Residential apartment unit for sale at Schwarzackerstraße 11, Leipzig, offered as part of the company's Property Development segment; advertised at EUR 3,750 per square meter.
- Leipzig Elsterstraße 48 Residential apartment unit for sale at Elsterstraße 48, Leipzig, part of the Property Development segment; advertised at EUR 5,950 per square meter.
- Leipzig Christianstraße 25 Residential apartment unit for sale at Christianstraße 25, Leipzig, part of the Property Development segment; advertised at EUR 5,200 per square meter.
- Leipzig Auguste-Schmidt-Straße 12 Residential apartment unit for sale at Auguste-Schmidt-Straße 12, Leipzig, part of the Property Development segment; advertised at EUR 5,150 per square meter.
- Terra Homes (Portfolio Development)
Quantifiable outcome
- Significantly reduced consolidated loss in H1 2025
- +1 more outcomes
Companies that use The Grounds
Customer profileSegments3 records
Ideal customer profiles3 records
The Grounds technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Grounds partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Ziegert GroupcoreThe Grounds took over asset management for companies in the Ziegert Group. The Management Board had been negotiating the potential takeover following the Ziegert Group's insolvency in June 2025. This represents an expansion of The Grounds' asset management business through acquisition of third-party portfolios.
Scale indicators1 record
Recent moves5 records
Expansion highlights5 records
The Grounds competitors and assessment
Company assessmentDirect peers
- Helma Eigenheimbau AG: German-listed developer specializing in single-family homes, townhouses, and condominiums for owner-occupiers; closely comparable in customer base and product type to The Grounds' residential project pipeline.
- ACCENTRO Real Estate AG: German-listed residential real estate company specializing in the privatization of residential apartments and the sale of residential units to owner-occupiers and investors; closely comparable model to The Grounds' sales-led residential focus.
- Instone Real Estate Group SE: German publicly listed residential developer focused on metropolitan areas; directly comparable in core business of developing and selling new-build and refurbished residential units to owner-occupiers and investors.
Broad incumbents
- LEG Immobilien SE: Major German residential property company focused on North Rhine-Westphalia; overlaps with The Grounds on residential asset management and rental housing themes, though not in the same primary metros.
- TAG Immobilien AG: German-listed residential property company with portfolio concentrated in northern and eastern Germany, including Leipzig and Dresden; partially comparable given The Grounds' Leipzig focus.
- Grand City Properties SA: European residential real estate company with significant German urban portfolio; comparable as a German residential landlord and manager, though much larger and broader.
- Vonovia SE: Europe's largest residential real estate company with a sizable German portfolio including new development; much larger and broader, but competes in the same German metropolitan rental and for-sale markets.
- Deutsche Wohnen SE: Major German residential landlord and developer with a substantial Berlin-focused portfolio; broader and larger than The Grounds but operates in the same Berlin metropolitan residential market.
Regional players
- Adler Group SA: European residential real estate company with significant German rental portfolio; comparable in residential asset management focus though larger and geographically broader.
Others
- Ziegert Group (insolvent): Berlin-based luxury residential real estate company that entered insolvency in 2025; The Grounds is taking over its asset management operations, making it a direct partner/comparator in the Berlin luxury residential space.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights5 records
Customer concentration
The Grounds social profiles
Digital presenceThe Grounds financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Grounds leadership team
Management profileNumber of profiles
Profiles3 records
The Grounds funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Grounds M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Grounds
What does The Grounds do?
The Grounds Real Estate Development AG is a Berlin-based real estate company that develops and sells residential properties in German metropolitan regions through two operating segments: Property Development (project-based new construction and sale of residential developments, mainly in Leipzig) and Portfolio Development under the Terra Homes brand (acquisition, modernization, and rental or sale of existing residential properties). The company also provides asset management services for the residential portfolio of third-party clients, notably the Ziegert Group.
Is The Grounds a public or private company?
The Grounds is a public company. It is classified as public and is currently operating.
When was The Grounds founded?
The Grounds was founded in 2007. It employs 11 to 50 people.
Where is The Grounds based?
The Grounds is headquartered in Berlin, Germany, in the Europe region.
How does The Grounds make money?
Three revenue lines are on record. Property Development is the primary driver. The others are fixed Asset Portfolio and asset Management Services.
Who are The Grounds's main competitors?
Direct peers on record are Helma Eigenheimbau AG, ACCENTRO Real Estate AG and Instone Real Estate Group SE. Broad incumbents are LEG Immobilien SE, TAG Immobilien AG, Grand City Properties SA, Vonovia SE and Deutsche Wohnen SE. Adler Group SA is listed as a regional player. Ziegert Group (insolvent) is listed as an others.
Does The Grounds have an API?
No public API is recorded for The Grounds.
What industry is The Grounds in?
The Grounds's product category is Residential Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities), with a secondary code of BPAJAMAA, Residential Real Estate Asset Management. Its NAICS code is 236117 and its SIC code is 6552.