Global real estate investment manager Hines has partnered with five German pension funds to develop a mixed-use scheme in Germany.
Hines and the unnamed pension funds have acquired land to develop the scheme combining both office and residential units spanning 60,000sqm in Berlin-Schöneberg.
The project, located on Gotenstrasse and Ella-Barowsky-Strasse, is scheduled for completion in 2026.
Christoph Reschke, senior managing director at Hines in Germany, said: “The location is in what Hines believes to be one of Berlin’s largest, most dynamic areas and is extremely attractive for tenants and buyers both from a residential and commercial perspective.
“We have seen strong occupier demand for our completed city quarter Südkreuz and believe that this will be another successful development. The project should benefit considerably from our experience at Südkreuz, and we look forward to working with the district to further shape the future of the entire Schöneberger Linse together.”
Joachim Wintzer, managing director at Hines in Germany, said: “We are planning a sustainable neighbourhood development with a strong commitment to implementing extensive ESG criteria including the ‘social’ aspect.
“Additionally, we will seek to reduce the operational CO2 consumption of the building by implementing new digital technology and interfaces for tenants. Our general focus is to deliver a dynamic and flexible scheme using technology to create a digitised project. The new building aims to become our best ESG development in Germany, setting new standards and complementing our pioneering project at Südkreuz.”
To read the latest edition of the latest IPE Real Assets magazine click here.