German developer Bauwert Investment Group announced on Monday that it has acquired a property in downtown Berlin from the Liegenschaftsfonds Berlin property fund for a EUR 85 mln apartment project. The transaction volume for the site at Württembergische Straße 40-49 was not disclosed.
German developer Bauwert Investment Group announced on Monday that it has acquired a property in downtown Berlin from the Liegenschaftsfonds Berlin property fund for a EUR 85 mln apartment project. The transaction volume for the site at Württembergische Straße 40-49 was not disclosed.
In early 2011, Bauwert will launch the construction of the Württembergische Straße residential estate, situated in the heart of Berlin's western town centre and in direct proximity to Kurfürstendamm. The plot, which extends over nearly 14,000 m2, will be home to 15 townhouses within a park-like setting. Some 60% of the estate’s grounds will be landscaped with greenery and gardens, parts of which will actually be accessible to the public. 'This project and our planning effort reconnect to Berlin's lost garden architecture and will restore a historical aspect to the city,' said Michael Staudinger, partner at Bauwert.
The 210 condominiums and rental apartments planned add up to a total residential floor area of 24,000 m2.
