German residential property specialist Estavis has acquired a property of around 37,600 m[sup]2[/sup] in Berlin comprising several listed buildings in the direct vicinity of the Spree. The listed properties on the site of the former Glanzfilmfabrik, a film factory in Köpenick, is to undergo high-quality renovation and conversion. Some 230 apartments will be built in three construction phases. In addition, the construction of new town houses is planned. The anticipated revenue volume will amount to around EUR 65 mln.
German residential property specialist Estavis has acquired a property of around 37,600 m2 in Berlin comprising several listed buildings in the direct vicinity of the Spree. The listed properties on the site of the former Glanzfilmfabrik, a film factory in Köpenick, is to undergo high-quality renovation and conversion. Some 230 apartments will be built in three construction phases. In addition, the construction of new town houses is planned. The anticipated revenue volume will amount to around EUR 65 mln.
'By acquiring and renovating this unique listed ensemble in Berlin we are expanding our range of premium quality residential real estate in the upmarket price segment,' said Florian Lanz, CEO of Estavis. 'At the same time we are strengthening our core business area with a lucrative major project that will have a positive effect on the future business development of Estavis.'
The listed residential ensemble will be jointly marketed with Berner Group. Over the past 30 years, Berner has brokered real estate and financing deals in an aggregate volume exceeding EUR 4.7 bn. Estavis and Berner Group will jointly market selected real estate projects in the future. The focus will be on listed real estate in the upper price segment.
