The real estate expert Pegasus Capital Partners (Pegasus), which specialises in financing structures, has advised on the successful sale of the residential development project "Sollner Straße 59" in Munich's Solln district. The project is part of a portfolio of three properties in Munich, which Pegasus is co-financing. The development partner of the property is a subsidiary of Neuland Projektentwicklung, with which Laurent Brückner and Andreas Konle realize their project development activities. The buyer of the project is a Munich-based entrepreneur. The two other projects are also to be put on the market as projected plots of land as soon as the building rights have been obtained.
Pegasus provided the project company with a mezzanine loan as part of the development. The financing served the further development of the property in accordance with planning law until it was ready for construction. After receiving the building permit, the project was sold.
In the sought-after residential area of Munich-Solln, an exclusive residential ensemble with a total of 25 residential units is being built on a plot of around 1,770 m². A building consisting of two connected apartment buildings with a total living space of around 1,500 m² is planned. The project is supplemented by an underground car park with eleven parking spaces.
"The successful transaction shows that high-quality residential developments in established micro-locations are meeting high demand despite the continued challenging market environment," says Martin Führlein, CEO of Pegasus Capital Partners. "Together with Pegasus Capital Partners, we were able to drive the development forward successfully and on time. This created the basis for a tailor-made exit," says Laurent Brückner, Partner at Neuland Projektentwicklung.
Sollner Straße 59 is located in the heart of the traditional district of Munich-Solln. The surrounding area is characterized by historic and modern villas as well as spacious green areas. At the same time, the location offers very good transport connections: The S-Bahn station of the S7 line is about 300 meters away, and Munich city center can be reached in less than 20 minutes. In addition, there is a good connection to the B11 federal road.
