A joint venture of Ten Brinke and CRX Real Estate has sold two significant residential construction projects in Berlin to the state-owned Berlinovo Immobilien Gesellschaft mbH. The transaction was completed as a forward deal. These projects, which together encompass around 300 residential units, contribute to the provision of rental housing in the mid-price segment within the capital.
According to the parties involved, both ventures recently entered the realisation phase. The complete finalisation of both projects is scheduled for the beginning of 2028. This underscores the systematic implementation of the construction projects and adherence to a clearly defined timeline for the completion of the residential units.
The first project, located at Sewanstraße 122 in the Lichtenberg district, will comprise approximately 120 residential units. The gross floor area for this construction project totals around 9,200 square metres. The second project is situated at Allee der Kosmonauten 129 in Marzahn-Hellersdorf and is planned to create approximately 180 residential units. The projected gross floor area for this site amounts to about 14,000 square metres.
The newly developed residential units in Marzahn-Hellersdorf are explicitly designed for rental to young professionals and employees of the State of Berlin. This focuses on creating housing for specific demographic groups, thereby contributing to the diversification of the rental housing supply.
Lars Stillmann, Berlin Branch Manager at Ten Brinke, stated that the projects continue the company's strategy of creating high-quality yet affordable housing for Berlin. He emphasised Ten Brinke's 25 years of experience as a developing contractor in Berlin and its precise knowledge of the local housing market. Stillmann highlighted the combination of development expertise and construction know-how in the partnership with CRX Real Estate.
Christoph Ruppmann, Managing Director of CRX Real Estate, confirmed that the successful transaction with Berlinovo reinforces the strength of the joint venture and their common approach to developing urgently needed housing for various target groups in Berlin. He added that the joint venture is advancing further projects and is already in exclusive purchase negotiations for additional plots in Berlin.
