A joint venture between Ten Brinke and CRX Real Estate has sold two residential construction projects with a total of around 300 units to the state-owned Berlinovo Immobilien Gesellschaft mbH. The projects in the Berlin districts of Lichtenberg and Marzahn-Hellersdorf are being implemented as part of a forward deal and contribute to the creation of affordable housing in the capital. Both projects have recently been implemented and are scheduled for completion by the beginning of 2028.
The project at Sewanstraße 122 (Lichtenberg) comprises around 120 apartments on 9,200 m² GFA. At Allee der Kosmonauten 129 (Marzahn-Hellersdorf), about 180 apartments with 14,000 m² GFA are being planned. They are to be rented to career starters and employees of the state of Berlin.
Lars Stillmann, Berlin Branch Manager at Ten Brinke, comments: "With these two projects, we are continuing our strategy of creating high-quality and affordable housing for Berlin. As a construction project developer with 25 years of experience in Berlin, we know the requirements of the Berlin housing market exactly. Together with CRX Real Estate, we are bundling development expertise and construction know-how in a reliable partnership."
Christoph Ruppmann, Managing Director of CRX Real Estate, adds: "The successful transaction with Berlinovo confirms the strength of our joint venture and our joint approach to developing urgently needed housing for different target groups in Berlin. At the same time, we are consistently pushing ahead with further projects and are already in exclusive acquisition negotiations for additional land."
