- Purchase of a property in Berlin Pankow
- 470 rental apartments planned
- Turnkey handover to state-owned company
LABORGH continues its growth course and has acquired a property of around 51,000 square meters in Ludwig-Quidde-Straße in Berlin’s Pankow district. The plan is to develop a modern residential quarter with a total of around 470 rental apartments. The aim is to create another socially oriented and livable quarter, which is to be handed over turnkey to a state-owned company. The development plan is already underway. It was agreed not to disclose the purchase price.
“With the acquisition of the property in Pankow, we are pushing ahead with our aim of creating affordable housing in Berlin and at the same time developing attractive quarters that will noticeably relieve the housing situation in the capital,” says Florian Lanz, Managing Director of LABORGH. “We have been working successfully with the state-owned housing companies for many years.”
The seller of the property is the HELMA Group, which sold the site as part of a strategic portfolio consolidation. The property in Pankow was part of a HELMA portfolio comprising 30 projects and covering approximately 900,000 m² of land.
“The sale is a conscious step to focus our resources even more on our core business in the future,” explains Adrian Heeger, Managing Director of the HELMA Group. “This creates new scope for investments in our projects, which will further strengthen our market position in the single-family and terraced house segment.”