Sonar Real Estate has initiated and successfully concluded the sale of an extensive site in Potsdam as part of an off-market transaction. The plot of approximately 11,000 square metres on Behlertstrasse was sold on behalf of a pan-European real estate investment manager. The purchaser of the property is HPF Real Estate gGmbH, a non-profit subsidiary of the Hasso Plattner Foundation. The parties involved have agreed not to disclose the purchase price.
Student housing and conservation-compliant refurbishment
The site on Behlertstrasse currently comprises a car park area as well as historic, listed coach houses providing a gross floor area of around 4,000 square metres. Ahead of the transaction, Sonar Real Estate's in-house development team had already drawn up concrete plans to prepare the land for future residential use.
The new owner intends to create urgently needed housing for students on the site. In addition to new construction, the project provides for the sensitive refurbishment of the listed coach houses. The subsequent operation of the resulting student hall of residence is to be undertaken by the Studierendenwerk West:Brandenburg, although formal approval from the relevant governing bodies remains pending.
Participating partners and consultancies
Nick Puschkasch, Managing Director of Sonar Real Estate, expressed satisfaction with the trusting and successful collaboration with HPF Real Estate in the course of the sale and extended his best wishes to the purchaser for the upcoming construction works.
On the vendor side, legal advice for the transaction was provided by the law firm Clifford Chance. The purchaser was advised on legal matters by Rotthege Rechtsanwälte, whilst technical advisory services were delivered jointly by Alfons & alfreda and Phase 5.
- —Site with around 11,000 m² of plot area and 4,000 m² of GFA in the coach houses
- —Planned conversion to student housing involving Studierendenwerk West:Brandenburg
- —Purchaser is the non-profit HPF Real Estate gGmbH of the Hasso Plattner Foundation
- —Structured off-market transaction with confidential purchase price
