Pbb said on Wednesday that it is providing the Swiss Lakeward Group with a €87.5 mln loan to purchase land and develop a new residential quarter in Berlin to be realised by the end of 2022.
A total of seven apartment buildings will be built in two phases on the site between the Ferdinand-Schultze-Straße and the Schleizer- and Plauener Straße. These have a total living space of around 25,000 m2, which is divided into around 380 apartments, some of which are rent linked. An underground car park will offer 160 parking spaces for cars and 800 bicycle parking spaces.
The project is being developed together with the Berlin project developer Belle Époque.
Gerhard Meitinger, head of Real Estate Germany at pbb, said: 'We are delighted about the renewed cooperation with the Lakeward Group, which we have come to know as very professional. The construction project is characterised by above-average quality living space at affordable prices, which will enable future residents to live in an energy-conscious urban context.'