Hines has acquired land in Berlin to develop a 60,000 sq m (circa 645,000 sq ft) mixed-use scheme combining offices and residential, in a joint venture with five German pension funds.
The land, which was bought in an off-market transaction for an undisclosed price, is located on Gotenstrasse and Ella-Barowsky-Strasse, in the direct vicinity of Hines’ already completed and fully leased city quarter Südkreuz.
Christoph Reschke, senior managing director at Hines in Germany, said: “The location is in what Hines believes to be one of Berlin’s largest, most dynamic areas and is extremely attractive for tenants and buyers both from a residential and commercial perspective. We have seen strong occupier demand for our completed city quarter Südkreuz and believe that this will be another successful development. The project should benefit considerably from our experience at Südkreuz, and we look forward to working with the district to further shape the future of the entire Schöneberger Linse together.”
Joachim Wintzer, managing director at Hines in Germany, added: “We are planning a sustainable neighbourhood development with a strong commitment to implementing extensive ESG criteria including the ‘social’ aspect. Additionally, we will seek to reduce the operational CO2 consumption of the building by implementing new digital technology and interfaces for tenants. Our general focus is to deliver a dynamic and flexible scheme using technology to create a digitised project. The new building aims to become our best ESG development in Germany, setting new standards and complementing our pioneering project at Südkreuz.”
The development is scheduled for completion in 2026.
