(Berlin) - Hines, the international real estate firm, has fully leased the 18,420 square meters of residential space in the city quarter Südkreuz (”Stadtquartier Südkreuz”).
In total, Hines has developed 664 residential units catering to 1,200 residents which includes 213 micro-apartments for students and 116 subsidized social housing apartments. Together with leasing experts from Bricks, Reos and Moovin, Hines provided prospective tenants with an online service platform that, among other things, enabled a virtual 360-degree tour. The units include one to four-bedroom apartments ranging from 19 to 115 square meters. Hines will continue to manage the city quarter in the long term.
Joachim Wintzer, Managing Director at Hines Immobilien, says: “We are pleased to fully lease the city quarter Südkreuz at great speed, despite the challenging times. The Südkreuz urban district thrives on the diversity of its residents. They will all benefit from the innovative living trends and forms of coexistence, which are uniquely combined here. The result is a lively future-oriented city quarter that meets the social requirements of intergenerational living.”
“With the Stadtquartier Südkreuz, we have succeeded in entering the rental market in the residential asset class in Germany. At the same time, the quarter serves as a trendsetter for residential developments. We are now ready to build on the experience we have gained in future projects - in Berlin, but also throughout Germany.” adds Christoph Reschke, Senior Managing Director at Hines Immobilien.
The city quarter Südkreuz benefits from various community amenities. These range from a roof terrace, a fitness center and a multifunctional pavilion. E-mobility services and co-working spaces not only conserve resources, but also encourage residents to get together. In addition, the quarter can be managed sustainably and cost-efficiently through the holistic network of buildings, residents and administration. Many processes are fully digitized through an app available exclusively to residents. Innovations will continuously be developed with new trends driven forward. The primary goals are to fulfill the wishes of the residents and to increase the attractiveness of the area. Residents can also submit their ideas for a better and more sustainable district via the online platform.
For further information about the city quarter Südkreuz please visit: www.südkreuz.com
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion1, including $81.7 billion in assets under management for which Hines serves as an investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees a portfolio of assets under management valued at approximately €26.3 billion of assets under management in Europe, including €21.9 billion for which Hines serves as an investment manager and €4.4 billion representing more than 3.8 million square meters of assets for which Hines provides third-party property-level services, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Since the opening of its site in Germany in 1991, Hines has acquired or developed a total of 61 properties with an overall surface area of over 2.5 million m² for Hines or on behalf of external clients, including properties such as the Main Tower, 160 Park View, Werfthaus and the Silberturm in Frankfurt, Zoom and Quartier Südkreuz in Berlin, Hofstatt, Uptown München, Tucherpark and OSKAR in Munich, the Überseequartier Nord district in Hamburg, the Benrather Karree and Kö-Quartier in Düsseldorf, and the Postquartier and Kronprinzbau 1+2 in Stuttgart. Hines currently manages property in Germany with an overall value of around €10 billion as an asset and development manager.
Visit www.hines.com for more information.