GBI Group acquires property in Berlin-Pankow - Construction of 130 apartments in the sought-after location - In excess of €50 million to be invested in the site

Berlin, 07.03.2024. The German developer GBI Group (‘’GBI’’) has acquired a 2,600 square metre plot in Berlin to build 130 energy efficient apartments. A preliminary building permit is already in place and construction in the German capital will begin in Spring next year. The units, which are scheduled to be completed by 2027, each average 50 square metres in size and will be built in accordance with the stringent EH 40 energy efficiency standards, while renewable energy will be integrated into both the heating and electricity supply. In total, the GBI Group will invest in excess of €50 million at the project. "The apartments have an efficient layout and will be an ideal and affordable option, especially for singles and couples," explains Simon Behr, Managing Director of the GBI Group.

The site is located in the highy sought-after Pankow district near the Wisbyer Platz and  Prenzlauer Berg, which is a bustling urban centre with a large variety of popular shops and restaurants, as well as ample green space. The finished homes will benefit from excellent public transport connectivity with underground and suburban railway stations (Vinetastraße and Schönhauser Allee) and tram stops on Wisbyer Straße just a few minutes' walk away.

Despite challenging markets, the GBI Group has now acquired a further property and will implement its residential strategy in a targeted manner. "GBI wants to establish itself as one of Germany's leading players in the residential segment," says Simon Behr: "As with this investment in Berlin-Pankow, we are focusing on property developments in sought-after locations in metropolitan regions and will integrate ESG criteria." The Managing Director of the GBI Group adds: "GBI is currently developing numerous major projects throughout Germany." Throughout the first half of 2024, construction projects with a gross development value (GDV) of around €250 million will be transferred to new property owners in Frankfurt, Hamburg and Nuremberg, among others.

About the GBI Group:
GBI is one of the leading German property developers that focuses on subsidised and privately financed apartments, serviced apartments, hotels, student accommodation, micro apartments and concepts for senior living. Founded in 2001, in the past five years alone GBI has completed real estate projects in Germany and Austria with a total investment volume of €1.6 billion. Over 7,500 units have been handed over to investors. The company has secured a further €1.3 billion in sales volume (GDV) for its development pipeline. Future construction projects will be completed in accordance with the DGNB Gold Standard or EH40/QNG requirements. GBI Capital, which is part of the GBI Group, covers investment management, fund and asset management as well as funding consulting. GBI Capital has over €450 million of assets under management from several fund mandates. GBI is a Henderson Park portfolio company. http://www.gbi.ag

Press contact:
GBI Group:
Wolfgang Ludwig, Ludwig Medien & Kommunikation,
Tel.: +49 221 – 29219282, Fax: +49 221 – 29219283, Mobile: +49 171 – 93 35 134,
Email: mail@ludwig-km.de