Urban Partners, a European investor focusing on urban developments, has made significant progress on its residential scheme in Berlin-Pankow. Construction financing for the project has been secured through UniCredit Germany. Concurrently, the necessary planning permission was granted, after which the ground-breaking ceremony for the project took place.
In October of the previous year, Urban Partners announced the development of a residential complex in one of Berlin's inner-city districts. This scheme represents the first residential quarter development in Germany to be fully refinanced using funds from the company's NSF V Fund. The project encompasses the construction of 147 modern rental residential units, distributed across four buildings, with a total net living area of over 9,100 square metres. The complex will also integrate communal facilities and a contemporary mobility concept.
Contribution to Housing Provision and Project Partners
The new quarter in Berlin-Pankow is designed to make a substantial contribution to alleviating the strained housing market. By providing urgently needed housing for long-term rental, the project addresses current challenges in urban housing provision. The planned completion of the construction project is scheduled for early 2028.
Attending the ground-breaking ceremony, alongside representatives of local interest groups, were project partners UniCredit, KondorWessels, and bdp real estate. This step marks the transition from the planning to the implementation phase, as construction work can now commence with the granted planning permission and secured refinancing.
Björn Munte, Vice President at Urban Partners, commented on reaching this stage. He emphasised that the creation of urgently needed housing provides a concrete answer to the current challenges in urban areas. The project reaffirms the commitment to developing high-quality and modern rental housing, thereby creating long-term value for the local population and the city as a whole.
