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The project development and construction company Ten Brinke has sold a residential construction project in Freiburg to a fund managed by WERTGRUND. The sale took place as part of a forward deal. On the project site at Ferdinand-Weiß-Straße 121, 70 subsidized and energy-efficient apartments as well as a daycare center are being built. Construction is scheduled to start in February. Wertgrund will contribute the property to the WERTGRUND Wohnen & Leben fund.
The project is located in the centrally located Freiburg district of Stühlinger, in the immediate vicinity of Eschholzpark. The living space of 5,018 square metres to be built will be spread over four floors and a staggered floor. On the ground floor, a daycare center (Kita) will move in on about 550 square meters, which will also use a large part of the outdoor area as a play area. All 70 apartments are being built as part of the subsidized rental housing financing of the L-Bank of the state of Baden-Württemberg. 160 bicycle parking spaces and 44 car parking spaces are also planned, which are spread over an underground car park and the outdoor area. Ten Brinke is building the project to the high KfW 40 standard. The project will be fully supplied with district heating and will have a photovoltaic system.
Mirco Strauch, Authorised Signatory Acquisition Germany at Ten Brinke, comments: "We are very pleased to intensify our cooperation with Wertgrund with another residential construction project. Every forward deal is a strong signal of confidence. As a building developer, we enable early price fixing, which offers planning security for all sides."
Matthias Franke, Head of Transactions at WERTGRUND Immobilien AG, explains: "We have succeeded in concluding a forward deal with a strong partner in one of the most sought-after cities. Against the backdrop of the continuing high demand for price-controlled and energy-efficient housing, the acquired project addresses precisely this market segment. This acquisition is in line with our self-image as a responsible investor in the residential real estate sector."
Nico Hirschfelder, branch manager of Ten Brinke in Böblingen, adds: "The project in Freiburg is an example of our claim to invest in sustainable and subsidized housing construction together with strong partners. With our branch in Böblingen, we contribute regional expertise and are in close contact with the city in order to create needs-based and integrated urban development solutions for the local people."
