Joint venture for a residential real estate project in Blankenfelde-Mahlow

The Grounds Real Estate Development AG has acquired a 51 per cent stake in a project development in Blankenfelde. The seller of the shares is Deutsche Habitat GmbH from Berlin, which will implement the project in the future together with The Grounds as a joint venture partner. The project development includes a total investment volume of more than 100 million Euro. On the 56,245 square meter building plot in Blankenfelde-Mahlow, south of Berlin, 186 three-story residential units with a gross floor area (GFA) of around 32,000 square meters are to be built in three construction phases over the next few years. Building of the first construction phase is scheduled to start in the 4th quarter of 2022, with completion scheduled for the 1st  quarter of 2024.

“The fact that we were able to win over The Grounds as an experienced partner for the Blankenfelde-Mahlow project confirms the attractiveness of the location and the project,” says Torsten Hollstein, Managing Director of Deutsche Habitat GmbH. The building plot is characterized by its very good transport connections via public transport and the road network as well as a good local infrastructure. School, day care center and shops for local supplies are in the immediate vicinity. Berlin is easily accessible from here by public transport or by car.

“Above all, the proximity to the BER airport, the transport connections and the existing infrastructure speak in favor of the purchase of the building plot. The purchase is an important milestone for our further growth. After the sale of 34 semi-detached houses in Erkner at the beginning of the year, we are seamlessly continuing our strategy of implementing residential project developments in attractive locations in the vicinity of Berlin,” says Arndt Krienen, CEO of The Grounds.

Corporate Contact:
The Grounds Real Estate Development AG
Arndt Krienen/Jacopo Mingazzini, Vorstände
Phone: +49 (0) 30 2021 6866

Public Relations:
RUECKERCONSULT GmbH | Peter Dietze-Felberg
Phone:+49 30 284 49 87 62