Catella Wohnen Europa (CWE), the German public open-ended real estate fund, has acquired 67 affordable apartments, extending over almost 6,000 sqm, in eight energy-efficient wood-hybrid buildings in Pankow, Berlin’s most populous district located in the northeast of the city. The Falkenquartier development properties were purchased from property developer Falkowski Group and are due to be completed by Q4 2024.
Berlin-based Catella Residential Investment Management GmbH (CRIM) and Munich-based KVG platform Catella Real Estate AG acquired the project development for the CWE fund.
Michael Keune, Managing Director CRIM, said: ”Berlin’s Pankow district is known for its attractive natural environment with the largest inner-city forest in Berlin, and there is strong demand for affordable modern sustainable housing in the area, especially for families, which is not being met by available supply. With this development, we are creating additional housing in a highly sought-after residential location in Berlin, with plenty of greenery in the surrounding area, such as Weißenseer Park with lido, open-air theatre, the nature reserve Am Faulen See, and the green corridor on Hansastrasse. The flats are mostly designed to be family-friendly and appeal to tenants due to their low operating costs and affordable rents.”
The properties are being built on a 6,850 square-metre plot using an innovative ‘zero-waste’ timber hybrid construction method where an exact quantity of raw material is sourced from sustainably managed forests and used up to avoid wastage. The buildings are also aligned with the KfW 40 standard and Sustainable Building Quality Seal, according to the Federal Ministery of the Interior and Community. This high level of energy efficiency level means the development can be financed as it only consumes 40% of the primary energy required by a comparable reference building, according to the domestic German Building Energy Act.
The ground floor flats feature terraces, and the upper floors have balconies and loggias or roof terraces. The underground car park is accessible via lifts and has 67 car parking and 176 bicycle spaces. There are ten charging stations for electric cars, each with a charging capacity of 11 kW.
A sustainable energy mix of partially renewable energy sources with district heating from combined heat and power, heat pumps, and solar photovoltaics is planned for the Falkenquartier. The photovoltaic system takes up about 30 per cent of the overall roof area.
Benjamin Rüther, Head of Fund Management CRIM, added: ” The European energy crisis has brought into focus the way developers build and adapt their assets for energy resilience. Innovative construction and design processes also drive down operating costs in the long term for investors and tenants. The Falkenquartier development is being built as an efficient and innovative energy concept, using innovative timber module construction method to meet the low operating cost requirements at the core of our long-term investment strategy.”
About Catella Residential Investment Management GmbH (CRIM)
Catella launched its first European residential fund in 2007 and its first dedicated European Student Housing Fund in 2013. CRIM is a subsidiary of the Stockholm-based Catella Group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than €7,5 billion across 10 European countries.
About the FALKOWSKI GROUP
The FALKOWSKI GROUP develops modern residential properties for private buyers, capital investors and investors at liveable locations in Berlin and Brandenburg. As a project developer, the group oversees all phases of project development from the creation of building rights to handover.
For more information, please contact:
Catella Residential Investment Management GmbH
Head of Marketing and PR European Residential
Telephone: +49 (0)30 887 285 29 76
Mobile: +49 (0)151 544 51 005
stine.zoechling[ at ]catella-residential.com