pbb is providing the Swiss Lakeward Group with €87.5m to purchase land for the construction of a new residential quarter in Berlin. The scheme comprising seven apartment buildings will be delivered in two phases, with the completion scheduled for 2022. The development will feature 380 apartments totalling 25,000m², and an underground car park for 160 vehicles. A day-care centre for children is also planned. The project is being developed together with the Berlin project developer Belle Époque.
Gerhard Meitinger, Head of Real Estate Germany at pbb, commented: "We are delighted about the renewed cooperation with the Lakeward Group, which we have come to know as very professional. The construction project is characterised by above-average quality living space at affordable prices, which will enable future residents to live in an energy-conscious urban context.”