Quantum Immobilien has acquired the Sonnenhöfe quarter development in Schönefeld, Brandenburg, close to Berlin’s new airport, in a club deal for several German pension funds.
The 54,000 sq m mixed-use district was sold by Deutsche Immobilien Entwicklungs and Eyemaxx Real Estate for an undisclosed sum.
The project will comprise 41,400 sq m of residential space, 11,400 sq m of offices and 1,200 sq m of commercial space. There will also be 710 parking spaces, some with e-charging points.
Targeting a broad group of users
The residential component will provide 607 units in four blocks which will be built in three phases with a mix sizes to appeal to a broad target group. The first 367 apartments in the first and second phases have already been completed and over 75% are let. Letting began on the final phase of 240 apartments in January. Completion is expected in the third quarter of 2021.
The offices are in two four-storey buildings in the eastern part of the site and Quantum said it is already in advanced talks for part of the space.
“With the off-market transaction, our investors have access to a quarter in an up-and-coming location,” said Quantum Immobilien managing director Celia-Isabel Vietmeyer.