HOCHTIEF sells 208 rental apartments in Hanover for over €60 million (DE)

HOCHTIEF Solutions formart has sold 208 rental apartments for more than €60 million.


The future Mosaik Eilenriede residential development on Mars-la-Tour-Strasse.

An institutional investor acquired 37 rental units at the 'Loft as you like' residential project on Dreyerstrasse off-plan. The same investor also purchased eight houses (with a total of 72 rental apartments) in the future Mosaik Eilenriede residential development on Mars-la-Tour-Strasse.

Eight buildings from this residential project (with 90 rental apartments) were sold to AXA Immoresidential, a real estate special assets fund owned by AXA Investment Managers Deutschland. Two private investors each acquired one building (with a total of nine residential units) at Mosaik Eilenriede. Construction work will start on the residential developments in summer 2011.

The Mosaik Eilenriede project foresees the construction of 18 townhouses with 171 residential units and four underground parking garages in Hanover's Zoo district. The groundwork is currently underway at the approximately 16,300 -m² site at Mars-la-Tour-Strasse. The buildings are scheduled for completion at the beginning of 2014.

A residential building with 37 rental apartments and an underground parking garage is under construction in Calenberger Neustadt. The site, which has an area of around 2,300 -m²s, is between Dreyerstrasse and Leineufer. The existing building will be demolished after July 2011 and a loft-style house completed by the end of 2012.

Source: Hochtief Solutions

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