Bonava to sell project comprising 194 rental apartments in Berlin to a value of SEK 500 M
Bonava is selling and starting production of a project comprising 194 rental apartments in Berlin to a Berlin-based company. The total value of the transaction is EUR 45 M, and the buyer finances the project, why cash flow is positive from the start. The start of production constitutes the first phase of the new Gartenstadt Karlshorst district, where Bonava will construct some 500 housing units over time.
– In Berlin, the need for new homes is significant, and this transaction shows that Bonava is capable of creating attractive offerings for investors. This also signals the start of production for this new district in eastern Berlin, which we will be developing for a long time to come, says Sabine Helterhoff, Business Unit President, Bonava Germany.
Of the 194 rental apartments in question, the majority will be built in accordance with the guidelines for the City of Berlin’s housing subsidy system. The homes will be constructed in three multi-family housing units that offer high energy efficiency, green roofs and sustainable energy and heating systems such as heat pumps and solar panels.
The future “Gartenstadt Karlshorst” district is located approximately 10 kilometres from Berlin city centre, in proximity to amenities including a district healthcare centre, a bakery, a daycare centre and a school. In Gartenstadt Karlshorst, Bonava will build some 500 new housing units through 2031 by creating a garden city comprising 194 rental apartments, some 50 single-family homes and approximately 280 condominiums.
The mobility concept of the new Bonava block, which provides 180 underground car parking spaces with e-charging facilities and numerous bicycle parking spaces, is complemented by public transport. Germany's largest car-sharing provider ShareNow is directly adjacent to Gartenstadt Karlshorst and offers a real alternative to owning a car.
Bonava is one of Germany’s most active residential developers and is one of Berlin’s largest players in the residential sector. For investor projects, Bonava negotiates rolling payment plans, meaning that they generate a positive cash flow from the very beginning.
For more information, please contact:
Fredrik Hammarbäck, Group Head of Press and Public Affairs
Tel: +46 739 056 063
Bonava is a leading residential developer in Europe with the purpose to create happy neighbourhoods for the many. With its 1,300 employees, Bonava develops residential housing in Germany, Sweden, Finland, Estonia, Latvia and Lithuania. To date, the company has built about 40,000 homes and reported net sales of approximately SEK 13 billion in 2023. Bonava’s shares and green bond are listed on Nasdaq Stockholm.
For more information about us, please visit: www.bonava.com
