Bonava is selling and starting production of a project comprising 194 rental apartments in Berlin to a Berlin-based company. The total value of the transaction is €45m, and the buyer finances the project, why cash flow is positive from the start. The start of production constitutes the first phase of the new Gartenstadt Karlshorst district, where Bonava will construct some 500 housing units over time.
“In Berlin, the need for new homes is significant, and this transaction shows that Bonava is capable of creating attractive offerings for investors. This also signals the start of production for this new district in eastern Berlin, which we will be developing for a long time to come,” said Sabine Helterhoff, Business Unit President, Bonava Germany.
Of the 194 rental apartments in question, the majority will be built in accordance with the guidelines for the City of Berlin’s housing subsidy system. The homes will be constructed in three multi-family housing units that offer high energy efficiency, green roofs and sustainable energy and heating systems such as heat pumps and solar panels.
The future “Gartenstadt Karlshorst” district is located approximately 10 kilometres from Berlin city centre, in proximity to amenities including a district healthcare centre, a bakery, a daycare centre and a school. In Gartenstadt Karlshorst, Bonava will build some 500 new housing units through 2031 by creating a garden city comprising 194 rental apartments, some 50 single-family homes and c. 280 condominiums.
The mobility concept of the new Bonava block, which provides 180 underground car parking spaces with e-charging facilities and numerous bicycle parking spaces, is complemented by public transport. Germany's largest car-sharing provider ShareNow is directly adjacent to Gartenstadt Karlshorst and offers a real alternative to owning a car.
Image source - Cision.
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