Global real estate investment manager Hines has partnered with five German pension funds to develop a mixed-use scheme in Germany.
Hines and the unnamed pension funds have acquired land to develop the scheme combining both office and residential units spanning 60,000sqm in Berlin-Sch枚neberg.
The project, located on Gotenstrasse and Ella-Barowsky-Strasse, is scheduled for completion in 2026.
Christoph Reschke, senior managing director at Hines in Germany, said: 鈥淭he location is in what Hines believes to be one of Berlin鈥檚 largest, most dynamic areas and is extremely attractive for tenants and buyers both from a residential and commercial perspective.
鈥淲e have seen strong occupier demand for our completed city quarter S眉dkreuz and believe that this will be another successful development. The project should benefit considerably from our experience at S眉dkreuz, and we look forward to working with the district to further shape the future of the entire Sch枚neberger Linse together.鈥�
Joachim Wintzer, managing director at Hines in Germany, said: 鈥淲e are planning a sustainable neighbourhood development with a strong commitment to implementing extensive ESG criteria including the 鈥榮ocial鈥� aspect.
鈥淎dditionally, 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 S眉dkreuz.鈥�
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