Hines to Develop a Residential Site in Berlin

(BERLIN) – Hines, the international real estate firm, has acquired a 231,424-square-foot residential development site known as Wohnpark Südkreuz in the Schöneberg district of Berlin. This marks the firm’s first private rental sector (PRS) development project in Germany.

In a joint venture with a private German real estate fund, Hines has secured the prime development site in Schöneberger Linse, an area of Berlin which is rapidly developing into a new and desirable neighborhood in the city.

The plan is to create 530 rental apartments of different sizes, totaling 570,487 square feet – ranging from micro-apartments, generously proportioned family units, all the way to subsidized apartments, which reflect the Berlin model of cooperative construction development. In addition, commercial premises will be built in the complex to cater to residents' every day needs, along with a day care center and units for age-appropriate living. E-bikes will be provided in order to increase livability and quality of life for residents, and communal areas will be created where people can gather for a neighborhood barbecue or to play sports. The residential complex is targeted for a mid-2019 completion.

Lars Huber, co-CEO of Hines Europe, said, “The development of the Wohnpark Südkreuz site is part of our wider pan-European strategy to develop PRS in several European locations. At present we are also developing rented residential projects in Ireland and the Netherlands.”

Christoph Reschke, senior managing director of Hines Immobilien GmbH, added, “The site has huge development potential and is ideally suited for the construction of rental apartments. This is an attractive site where we can apply our world-renowned expertise, and can also realize our concepts for contemporary rental apartments in the German market for the first time. We are proud to meet the challenge.”

Joachim Wintzer, director of Hines Immobilien GmbH, is pleased to be able to begin realization of the residential complex after the appraisal phase. He said, “We have a range of new ideas for attractive, contemporary living. Our goal is to create innovative living concepts and optimum quality of life.”

The site has excellent infrastructure thanks to the main-line Südkreuz train station within easy walking distance, the city rail and subway stations Schöneberg and Innsbrucker Platz, and the A100 autobahn in the immediate vicinity. The area is already distinguished as an attractive place to live by the recreational opportunities close by, including the Cheruskerpark, as well as the available health care facilities.

Hines Immobilien GmbH acted as the acquisition manager in Berlin and will take on the strategic development and realization of the new Wohnpark Südkreuz. The site was sold by Projektgesellschaft Wohnpark “Südkreuz” Berlin-Schöneberg GmbH, represented by the project developer Ulrich St. Ph. Elberskirch and Florian Altmann. This company had initiated the development plan procedure.

Hines was advised in the acquisition by Pöllath + Partners. On the seller's side, advice was provided by the firm KWS Auditors Tax Consultants and Attorneys (Legal: Attorney Konstantin Sassen – Tax: Auditor/Tax consultant Michael Weckbecker).

Since the opening of the German office in 1991, via Hines Immobilien GmbH, Hines has acquired or developed 37 properties representing approximately 1.6 million square meters for Hines or third parties, including high-profile properties such as Maintower and Silberturm in Frankfurt; Sony Center and Wohnpark Südkreuz in Berlin; Hofstatt, Uptown München and OSKAR in Munich; Benrather Karree and Kö-Quartier in Dusseldorf, and Postquartier and Kronprinzbau 1+2 in Stuttgart. In Germany, Hines Immobilien GmbH currently manages real estate assets with a total value of approximately 3.5 billion euros as an asset or development manager. In Germany, Hines has already developed various projects for condominiums. The company has purchased rental apartments also as part of its long-term portfolio, for example in the Überseequartier in Hamburg and in the Sony Center in Berlin.

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 192 cities in 20 countries. Hines has $93.2 billion of assets under management, including $47.9 billion for which Hines provides fiduciary investment management services, and $45.3 billion for which Hines provides third-party property-level services. The firm has 105 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,180 properties, totaling over 379 million square feet. The firm’s current property and asset management portfolio includes 483 properties, representing over 199 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

Wohnpark Südkreuz ©BLR Projektplan
Caption Wohnpark Südkreuz ©BLR Projektplan

Contact Hines

Headquarters

Global Headquarters

2800 Post Oak Blvd.
Houston, TX 77056-6188
United States
713 621 8000
Contact Hines

European Headquarters

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax

Regional Offices

U.S. East Region

345 Hudson Street
12th Floor
New York, NY 10014
United States
212 230 2300

U.S. Midwest Region

444 West Lake Street
Suite 2400
Chicago, IL 60606
United States
312 419 4900

U.S. Southeast Region

5 Ravinia Dr NE
Atlanta, GA 30346
United States
770 206 5300
770 206 5325 fax

U.S. Southwest Region

609 Main St.
Suite 4400
Houston, TX 77002
United States
713 237 5600

U.S. West Region

101 California Street
Suite 1000
San Francisco, CA 94111-5894
United States
415 982 6200
415 398 1442 fax

Asia Pacific Region

101 California Street
Suite 1000
San Francisco, CA 94111-5894
United States
415 982 6200
415 398 1442 fax

Eurasia Region

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

European Region

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax

International Offices

Australia

20 Hunter St
Level 11
Sydney, NSW 2000
Australia
61 2 9231 2167

Brazil

Av. das Nações Unidas, 12901
Torre Norte - 6 ° andar
São Paulo 04578-910
Brazil
55 11 5504 7600

Canada

200 King Street West
Suite 1805
Toronto, ON M5H 3T4
Canada
416 595 1949

China

Hyundai Motor Tower Suite 333
38 Xiaoyun Road, Chaoyang District
Beijing, PRC 100027
China
8610 8453 8855
8610 8453 9866 fax

France

66 Avenue Charles de Gaulle
Neuilly-sur-Seine, IDF 92522
France
33 1 41 45 80 80
33 1 41 45 80 81 fax

Germany

Hardenbergstraße 28a
D-10623 Berlin
Germany
49 30 726241 100
49 30 726241 109 fax

Greece

Voukourestiou 19
Athens 106 71
Greece
30 210 364 7895

India

One Horizon Center
12th Floor
Gurgaon, Haryana 122002
India
91 124 480 2222

Ireland

Block 2, First Floor
Clanwilliam House, Clanwilliam Place
Dublin 2
Ireland
353 1 7999900
353 1 7 999931 fax

Italy

Via Manzoni 5
Milan 20121
Italy
0039 02 8962921

Luxembourg

35 F, John F. Kennedy
Luxembourg L-1855

352 264 337 1
352 264 337 37 fax

Mexico

Torre del Angel
Reforma 350
Mexico D.F. 06600
Mexico
52 55 52428809

Nordic Countries

Nybrogade 12
Copenhagen 1203
Denmark
44 7815 285 191

Panama

Torre B Piso 15
Torre de las Americas
Punta Pacifica, Panama City
Panama
507 028 20 7375
507 300 99 75 fax

Poland

Prosta Street 68
Warsaw 00-838
Poland
48 22 351 2400
48 22 351 2401 fax

Russia

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00
7 495 785 05 10 fax

Spain

Sor Ángela de la Cruz, 2° - 2° C
Edificio Cuzco III
Madrid 28020
Spain
34 91 703 00 23
34 91 359 89 71 fax

South Korea

Glass Tower, Level 20
534 Teheran-ro, Gangnam-gu
Seoul 06181
Republic of Korea
82 2 6138 3840

The Netherlands

Naritaweg 165
Teleport
Amsterdam, NH 1043 BW
Netherlands
44 20 7292 1974

United Kingdom

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax