Berlin, 07.03.2024.
The German developer GBI Group (‘’GBI’’) has acquired a 2,600 square metreplot in Berlin to build 130 energy efficient apartments. A preliminary building permit is already in place and construction in the German capital will begin in Spring next year. The units, which are scheduled to be completed by 2027, each average 50 square metres in size and will be built in accordance with the stringent EH 40 energy efficiency standards, while renewable energy will be integrated into both the heating and electricity supply. In total, the GBI Group – a portfolio company of British private equity real estate manager Henderson Park – will invest in excess of €50 million at the project. "The apartments have an efficient layout and will be an ideal and affordable option, especially for singles and couples," explains Simon Behr, Managing Director of the GBI Group.
The site is located in the highy sought-after Pankow district near the Wisbyer Platz and PrenzlauerBerg, which is a bustling urban centre with a large variety of popular shops and restaurants, as well as ample green space. The finished homes will benefit from excellent public transport connectivity with underground and suburban railway stations (Vinetastraße and Schönhauser Allee) and tram stops on Wisbyer Straße just a few minutes' walk away.
Despite challenging markets, the GBI Group has now acquired a further property and will implement its residential strategy in a targeted manner. "GBI wants to establish itself as one of Germany's leading players in the residential segment," says Simon Behr: "As with this investment in Berlin-Pankow, we are focusing on property developments in sought-after locations in metropolitan regions and will integrate ESG criteria." The Managing Director of the GBI Group adds: "GBI is currently developing numerous major projects throughout Germany." Throughout the first half of 2024, construction projects with a gross development value (GDV) of around €250 million will be transferred to new property owners in Frankfurt, Hamburg and Nuremberg, among others.
