Red Square is developing an apartment building at Bundesallee 176 / Badensche Straße 20 in the Berlin-Wilmersdorf district on behalf of the project company Bauwerk Berlin 176 GmbH & Co. KG of the real estate company Bauwerk Capital from Munich. The building permit has already been granted by the responsible authorities and construction has now begun. Red Square was able to win over the Europe-wide FU.Life Group as operator, which will operate the location under its FU. LIFE. A total of 142 fully furnished apartments are planned, spread over the eight floors of the building.
The lease provides for a term of around 20 years, including two extension options. The underlying usage concept of FU. LIFE combines a long-stay apartment concept with attractive communal areas. In addition to the lobby and reception, a café and bar area as well as coworking spaces will be created on the ground floor, which will be open to both guests and the neighbourhood. On the landlord side, HauckSchuchardt from Frankfurt acted as an advisor. The tenant was accompanied by K&L Gates LLP Berlin. The contact was arranged by Busso von Alvensleben, BvA Real Estate GmbH.
David Tschörner, Managing Director of Red Square, says: “With the FU.Life Group, we are securing an internationally experienced operator with the highest quality for the project. At the same time, we are reaching an important milestone in the development of the site. The long-term commitment of the tenant confirms the attractiveness of the district and the usage concept.”
Georg Haider, Managing Partner of FU.Life Group: “This project exemplifies the kind of partnerships we want to build across Europe. From the very beginning, Red Square has demonstrated a high degree of professionalism, reliability and a deep understanding of the requirements of modern longstay concepts. Together, we are creating a location that not only offers high-quality apartments, but also creates a lively and community-oriented living environment in the heart of Berlin.”
Eyal Gicelter, Managing Partner of FU.Life Group, adds: “Berlin is one of the most important strategic markets of our European growth strategy. This project is much more than a single property – it is another milestone in building a leading European hospitality and living platform.
Within the next 24 months, we will exceed the mark of more than 5,000 secured units under management and consistently expand our presence in Europe’s most important metropolitan regions.”
