Trei Real Estate is granted building permit for residential project in Berlin
Construction to begin in July 2018
Trei Real Estate GmbH has been granted a building permit for a residential building in Pappelallee in Berlin. "The approval of our planning application removes the last obstacle to our first residential project in Berlin. It is a further important step in the roll-out of our residential strategy," says Pepijn Morshuis, CEO of Trei Real Estate GmbH. Following the opening of the student apartment complex Quartillion in Cologne in March of last year, this is Trei's second project in the residential sphere.
Right in the heart of the Pankow district of Berlin, over a construction area of 27,400 m², a modern residential and office building is being built with approximately 240 residential units as well as an individual retail space spanning 2600 m², which contains, amongst other things, a Rewe supermarket. The level of investment for the project is 82 million euros. The architectural design was penned by the international architecture office J.MAYER H und Partner, Architekten mbB. The demolition and groundwork will begin in July followed by 24 months of construction. During this time, Trei will work alongside the construction company S. Pöttinger GmbH & Co. KG as the general contractor.
Trei has been pushing forward the optimisation of its portfolio since 2015, separating itself from properties which do not form part of the target portfolio. "We are reinvesting the revenue generated by sales over the last few years in the development of residential properties in Germany, the Czech Republic, Poland and the USA as well as in the expansion of our specialty retail centre portfolio in Central Europe," says Morshuis.