Sonar Real Estate (Sonar) has initiated and completed the sale of a plot of land measuring approximately 11,000 m², comprising listed coach houses on Behlertstraße in Potsdam, on behalf of a pan-European property investment manager as part of an off-market transaction. The purchaser is HPF Real Estate gGmbH, a non-profit subsidiary of the Hasso Plattner Foundation. The parties have agreed not to disclose the purchase price.
The site currently comprises a car park and the coach houses, with a gross floor area of around 4,000 m². In the run-up to the sale, Sonar’s development team drew up plans for the site’s future use as student accommodation. The purchaser intends to create student accommodation there and, in doing so, to renovate the listed coach houses. Subject to the approval of its governing bodies, the hall of residence is to be operated by Studierendenwerk West:Brandenburg.
Nick Puschkasch, Managing Director of Sonar, explains: “We are delighted with the successful transaction, conducted in a spirit of trust, with HPF Real Estate, and wish them every success with the upcoming construction work.”
Clifford Chance provided legal advice to the seller. On the buyer’s side, Alfons & alfreda, together with Phase 5, provided technical advice, whilst Rotthege Rechtsanwälte provided legal advice.
