Readcrest Capital and KFK Holding launch development joint venture

Readcrest Capital and KFK Holding launch development joint venture

Hamburg, 1 September 2025 - Readcrest Capital AG (ISIN: DE000A1E89S5), the listed Hamburg-based real estate investment company, and KFK Holding, the Cologne-based real estate investment company, are launching a joint venture with equal shares (50/50) to jointly exploit opportunities in the German real estate market. The joint venture will purchase project development companies in financial distress, recapitalise them and complete the respective projects.

Both companies will contribute their complementary regional networks, capital and expertise to this endeavour. A project development volume of approximately €300 million is planned for the next twelve months. The first projects are already under review.

Rolf Elgeti, CEO of Readcrest, explains the initiative as follows: "Project developers in Germany are facing major problems: liquidity in many markets has virtually dried up, financing has become more restrictive and expensive, the construction industry is in some cases struggling, and regulatory and bureaucratic pressure is increasing. This has led to numerous insolvencies and the collapse of supply in many property markets. At the same time, however, demand for housing continues to rise, naturally exacerbating the housing shortage. Logically, this creates opportunities for those willing to enter this market countercyclically, which is part of Readcrest's strategy anyway. With KFK, we now have a partner at our side with whom we can significantly increase our expertise, regional coverage and capital strength."

Nikan Karimian-Pour, Managing Partner at KFK, continues: "Germany needs homes, not half-finished construction sites, and that's exactly where we come in: we bridge the gap between distressed situations and the urgent need for marketable living space. In doing so, we solve one of the most pressing problems in Germany and ensure contemporary, marketable completions. Readcrest, with Rolf Elgeti, is the ideal partner for us: experienced in special situations, decisive and with a clear understanding of risk. Our joint approach is pragmatic: recapitalise, simplify, complete. In the end, it's not the announcement that counts, but the completion."

Contact:
Readcrest Capital AG
Rolf Elgeti, Dr. Marcus Kiefer – Executive Board
Schopenstehl 22, D-20095 Hamburg
Tel.: +49 40 679 580-53
info@readcrest.com
www.readcrest.com