Pegasus Capital Partners, a company specialising in financing structures, has advised on the successful sale of the residential development project "Sollner Straße 59" in Munich-Solln. This undertaking is part of a portfolio of three plots of land in Munich, which Pegasus co-finances. A subsidiary of Neuland Projektentwicklung, which pools the project development activities of Laurent Brückner and Andreas Konle, acted as the development partner. The buyer is an entrepreneur based in Munich. The two remaining projects in the portfolio are to be brought to market after the completion of zoning rights creation.
Pegasus provided the project company with a mezzanine loan to finance the development. This loan was intended for the planning-related advancement of the property until it was ready for construction. The project was sold after receipt of the necessary building permit. The transaction underlines the market attractiveness of qualitative residential developments in established micro-locations.
On a plot of approximately 1,770 square metres in the sought-after residential area of Munich-Solln, a residential ensemble with 25 units is being built. A building complex consisting of two interconnected multi-family houses is planned, encompassing a total living area of around 1,500 square metres. The project is complemented by an underground car park, providing eleven parking spaces. The "Sollner Straße 59" project is located in the centre of the traditional district of Munich-Solln.
The surroundings are characterised by historic and modern villas as well as extensive green spaces. At the same time, the location stands out due to its good transport infrastructure. The S-Bahn station for line S7 is approximately 300 metres away, making Munich city centre accessible in under 20 minutes. Furthermore, there is a connection to federal highway B11. Martin Führlein, CEO of Pegasus Capital Partners, stated that high-quality residential developments in established micro-locations continue to meet with high demand, despite the challenging market environment.
Laurent Brückner, Partner at Neuland Projektentwicklung, added that the development, together with Pegasus Capital Partners, was successfully and punctually advanced on the planning side. This created the basis for a perfectly tailored exit.
