District Development in Berlin

PRIMUS acquires land for district development in Berlin from Euroboden insolvency

Berlin, 06/27/2024. PRIMUS Immobilien AG, a leading real estate investor with a focus on project development in Berlin, has acquired a plot of land at Kärntener Strasse 21-23, right next to Schöneberg S-Bahn station, for a neighborhood development. Around 26,000 square meters of gross floor space are planned on the site, which was acquired from the insolvency estate of Munich-based developer Euroboden. The aim is to create a particularly green quarter with various uses such as offices, commercial accommodation and craftsmen’s yards. Among other things, certifications from the German Sustainable Building Council (DGNB), WELL and Wiredscore for connectivity and digital infrastructure are being sought.

“This purchase fits in perfectly with our investment plans. As announced at the beginning of the year, we have also succeeded in acquiring opportunities from insolvencies. Following the acquisition of Berliner Strasse 100 and now Kärntener Strasse 21-23, we have been able to secure potential for more than 40,000 square meters of gross floor space for residential and work environments in recent months. We are also confident of making further acquisitions this year.” explains Sebastian Fischer, CEO of PRIMUS Immobilien AG.

The project is to be realized in two phases. Construction of the first phase is scheduled to start at the beginning of 2026.

“For us at PRIMUS, the careful and harmonious integration of the project into the existing neighborhood is particularly important. The resulting park will be accessible to the neighbors and become a lively place that invites people to linger. We will be working intensively on the planning of the project over the coming months. An innovative, car-reduced mobility concept will be an integral part of it.” adds Fischer.