Quantum Immobilien KVG has acquired the Wasserstadt Mitte quarter in Berlin's Europacity as part of an individual mandate for an institutional investor. The seller is Adler Real Estate AG.
"Wasserstadt Mitte is one of the largest projects in Europacity. We are very pleased to have secured this modern and sustainable quarter in a central location for a new investor. With this purchase, we are not only sending a positive signal in challenging times, but also recording one of the largest residential acquisitions in our company's history," says Philipp Schmitz-Morkramer, CEO of Quantum Immobilien AG.
The mixed-use quarter comprises around 47,000 sqm of rental space for residential and commercial use. This is divided between 711 privately financed apartments, including 213 co-living apartments, and around 3,000 sqm of commercial space for retail, restaurants and a kindergarten.
Three further construction sites in the southern part of Europacity with over 500 apartments and around 2,000 sqm of commercial space have already been part of two Quantum funds since 2017. "With Wasserstadt Mitte, we are further expanding our commitment in Berlin's Europacity. In total, we now manage around 1,200 apartments on site," adds Martin Berghoff, managing director of Quantum.
Wasserstadt Mitte is located on the banks of the Berlin-Spandauer-Schifffahrtskanal. The neighborhood was completed in 2019 on Europacity's construction site 1 (Heidestraße 17-24). The high energy standard has been confirmed on a science-based basis by an assessment by the climate tech company right°, in whose real estate division Quantum holds a 50 percent stake. The operation of the neighborhood is in line with the Paris Climate Agreement and underlines its exceptional sustainability quality.
The transaction took place as part of a share deal. The parties have agreed not to disclose the purchase price. Colliers acted as agent for Quantum. The law firm P+P Pöllath + Partners Rechtsanwälte und Steuerberater mbB, WITTE Projektmanagement GmbH and CBRE acted as advisors.
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(Source: Quantum, 09|11|2023 | "Europacity: Quantum acquires “Wasserstadt Mitte” from Adler")