Red Square, acting on behalf of the project company Bauwerk Berlin 176 GmbH & Co. KG, which belongs to the Munich-based real estate firm Bauwerk Capital, is developing an apartment building in the Berlin district of Wilmersdorf. The property is located at Bundesallee 176 / Badensche Straße 20. The necessary building permit for the construction project has been granted by the responsible authorities, after which construction commenced. The FU.Life Group, a company active throughout Europe, will operate the apartment building under its FU.LIFE brand.
The apartment building is designed over eight storeys and will comprise a total of 142 fully furnished apartments. The operator agreement has been concluded for a term of approximately 20 years and includes two extension options. FU.LIFE's operating concept combines a long-stay apartment concept with additional communal areas. The ground floor of the building will feature a lobby, a reception, a café and bar area, and co-working spaces. These areas will be open to both guests and the public within the neighbourhood.
David Tschörner, Managing Director of Red Square, commented on the project development. He emphasised that with the FU.Life Group, an internationally experienced operator focused on high quality could be secured for the project. This represents a significant milestone in the development of the location. The tenant's long-term commitment demonstrates the attractiveness of the district as well as the quality of the developed usage concept.
Georg Haider, Managing Partner of the FU.Life Group, highlighted the collaborative partnership. He stated that the project represents the kind of cooperation the company seeks across Europe. Red Square has demonstrated professional conduct, reliability, and a deep understanding of the requirements for contemporary long-stay concepts from the outset. Together, a location is being created that not only offers high-quality apartments but also establishes a vibrant and community-oriented living environment in the centre of Berlin.
Eyal Gicelter, also Managing Partner of the FU.Life Group, added to the strategic importance of the project. Berlin is considered one of the most important strategic markets within the company's European growth strategy. This undertaking is more than a single property; it signifies further progress in building a leading European hospitality and living platform. The company plans to reach the milestone of more than 5,000 secured units under management within the next 24 months and continuously expand its presence in Europe's central metropolitan regions.
On the landlord side, the transaction was legally advised by HauckSchuchardt from Frankfurt. The tenant, FU.Life Group, received advice from K&L Gates LLP Berlin. The contact was brokered by Busso von Alvensleben from BvA Real Estate GmbH.
