Berlin: Staycity Group signs lease agreement for aparthotel in Brooks on East

All 222 apartments are located in the two building towers of the project. In the 95-metre-high Tower 1, 116 units are planned on the first six upper floors. The offer is complemented by a lobby with reception and a catering area (café / bar) on the base floor. In the 86-metre-high Tower 2, 106 apartments are planned on the first five upper floors. The ground floor has space for a gym and other ancillary areas.

Aaron Tschörner, Managing Director at Red Square, says: "The cooperation with the Staycity Group, which is growing throughout Europe, strengthens the quality of Brooks on East through a lifestyle boutique concept that is established in the market. After the basic expansion of the areas, the tenant and his own team implement the equipment of the rooms. This gives the operator maximum flexibility to implement his characteristic design ideas. We are convinced that the internationally renowned brand will set another effective accent in Berlin." In addition to the new location in Friedrichshain, Wilde Aparthotels also has a branch at Checkpoint Charlie in Berlin-Mitte.

Andrew Fowler, Chief Development Officer, Staycity Group, said: "Berlin is a key market for us within our European portfolio as we focus on cities that appeal to both business and leisure travellers. With this prominent location at the East Side Gallery, an important tourist magnet, we have secured another location with a high number of visitors in the German capital. In addition to the quality of the location, the two striking buildings and the professionalism of our project partners were decisive factors in our decision."

The Brooks on East between Ostbahnhof and the Uber Arena is part of the overall Media Spree district development. The resumption of construction work became possible after insolvency administrator Christian Otto, partner of the law firm hww hermann wienberg wilhelm, set up new financing via the previous financing creditors after months of negotiations after the insolvency of the previous property developer. After the agreement on the financing of the further construction in September 2024, construction work could finally be resumed.

In coordination with the financing creditors, lawyer Christian Otto commissioned the two project developers Red Square from Neu-Isenburg near Frankfurt am Main and Arrow Global from London with the completion of the construction project and sales. Red Square took over responsibility for the operational completion of construction and the marketing of the space that had not yet been sold or rented. Arrow Global focused on the exploitation of the aparthotel space and the adaptation and implementation of existing agreements with buyers. They were each provided with legal support by Jahn Hettler Attorneys at Law from Frankfurt am Main.

The entire project comprises the two striking building towers including base floors and offers a total of over 350 condominiums with living areas between 60 and over 300 square meters, including spacious penthouses with a view over the city. In addition to the condominiums and the aparthotel, contemporary office, restaurant and commercial space will also be created. The condominiums are currently sold by the Berlin brokerage firm Best Place Immobilien.