PRIMUS Acquires Another Plot for Rental Housing Development in Berlin

The PRIMUS Immobilien AG, a leading real estate developer in Berlin, has acquired a plot of land at Blücherstraße 26B in Berlin-Kreuzberg for a rental housing development. The site includes a nine-story residential building constructed in 1965, which is set to undergo energy-efficient renovations as part of the project. The property will be complemented by four new buildings with up to six floors. A preliminary building permit has already been issued. Sustainability certifications, including DGNB Gold and QNG Plus, are targeted for the new constructions. The ground floor of the buildings is planned for commercial use, such as retail or local suppliers. In total, approximately 320 residential units will be built, covering over 16,000 square meters of gross floor area. Construction is scheduled to begin in the first quarter of 2026.

PRIMUS Expands Portfolio by Over 60,000 m² of Gross Floor Area

"The outlook on building permit and completion data is grim – low construction activity in the residential segment, both nationwide and in the capital, is exacerbating the housing shortage and widening the supply gap. We are therefore all the more pleased to have once again successfully acquired a site for rental housing in Berlin. We are one of the few active players consistently contributing to the creation of rental housing. We are also in advanced negotiations for two additional sites, which we aim to acquire shortly," commented Sebastian Fischer, CEO of PRIMUS Immobilien AG.

Following acquisitions at Berliner Straße 100 in Berlin-Pankow and Kärntener Straße 21–23 in Berlin-Schöneberg, Blücherstraße 26B marks the third purchase in 2024, totaling over 60,000 square meters of gross floor area. In addition to developing condominiums (e.g., Knesebeckstraße 10) and commercial properties (e.g., Lietzenburger Straße 76 and Greifswalder Straße 168), building a portfolio of modern, sustainable rental apartments remains a key element of PRIMUS’s corporate strategy.

Focus on Central Locations and the Highest Standards

The company aims to build a portfolio of 2,000 rental apartments, with completion targeted by 2028. The focus is on central, inner-city locations with excellent transportation connections. As always, the portfolio emphasizes sophisticated architecture and the highest standards of sustainability. At Berliner Straße, PRIMUS is set to begin construction in 2025 on around 291 rental apartments, featuring high-end furnishings and community amenities such as fitness areas, co-working spaces, and rooftop terraces for residents.

PRIMUS Addresses Growing Demand with Strategic Pipeline

"We are seeing a renewed increase in demand and growing interest in the residential asset class among institutional investors and family offices. At the same time, low construction activity is resulting in limited supply, even as demand for such products rises – here, too, we aim to create supply with our pipeline," added David Neuhoff, CFO of PRIMUS.

Paragonia Partners acted as transaction advisors.


For further information about the growth industries, economic development, business and technology support for companies, investors and scientific institutions in the Airport Region Berlin Brandenburg please contact:

Sandra Koletzki ​​​​​​ | sandra.koletzki(at)airport-region.de

(Source: PRIMUS Immobilien AG, 12|19|2024 | “PRIMUS acquires another site for rental housing in Berlin – further acquisitions planned shortly.")