Transaction completed for the LICHTWERK project in Berlin
On 2nd March 2022, die developer Projektenwicklung GmbH acquired a plot of land on Josef-Orlopp-Straße 56 in Berlin-Lichtenberg by way of a purchase agreement as part of a joint venture with PATRIZIA AG. The purchase price was paid on 28th April 2022, thereby completing the transaction.
The property contains existing listed buildings with approximately 32,000 m² of overground gross floor area. The buildings date from around 1910 and, according to the valid preliminary building permit, offer building potential of around 21,000 m². An industrial-style campus with various area and usage types is planned for the site. Offices, labs, workshops and spaces for artists and restaurants will offer a diversified site that offers a high level of amenities to a wide target group.
The “Lichtwerk” building is in the best location and its future users will benefit from excellent traffic connections. Berlin’s ring road is just 15 minutes away on foot, while a tram stop with five different lines is only 500 metres away. Right next to the project site are other projects under development that strengthen the location, turning it into a popular light industrial and office location in Berlin. The extended environment offers the numerous advantages of the Friedrichshain and Kreuzberg areas, and will offer shops selling everyday items as well as cultural and culinary offerings.
“We are delighted that we have acquired such an interesting property in a prominent location in Berlin and that we are allowed to develop our first project in Berlin together with our partner PATRIZIA. The LICHTWERK project is one of the last opportunities to create a mixed-use campus near to the circular S-Bahn line that offers a commercial mix of the manufacturing industry, the digital and healthcare industries as well as offices and restaurants,” says Volker Raatz, Managing Director of die developer Berlin.
Project developers from Düsseldorf
die developer Projektentwicklung GmbH, founded in Düsseldorf in 2008, whose projects such as the “Kö-Bogen” in Düsseldorf – which won the MIPIM Award (Best Urban Regeneration Project) in 2014 – have achieved international recognition. As investors, builders and responsible project developers, they are offering the necessary expertise and a solid financial basis for sustainable and forward-looking projects. As a regional developer, the company primarily focuses on western Germany and Berlin.
www.diedeveloper.de
PATRIZIA: A leading partner for global real assets
PATRIZIA has been investing in real estate and infrastructure for institutional, (semi-)professional and private investors for the past 38 years. PATRIZIA operates worldwide and currently has over EUR 50 billion in assets under management. It has over 900 employees at 26 locations. Since 1984, PATRIZIA has been investing with the aim of making a positive contribution to society. Since the company was founded, it has also been involved in the PATRIZIA Foundation, which in the past 22 years has given around 250,000 underprivileged children access to education and training, thereby improving their chances of a better life.
www.patrizia.ag