By Nick Gilbert
A residential complex of 149 apartments in Berlin was divested by NCC Housing in Germany to a German special fund for energy-efficient residential buildings for 204 million Swedish Krona. Transfer and revenue realization will take place over two stages in the fourth quarters of 2012 and 2013.
The complex has three buildings in the Pankow region of Berlin. The 149 apartments cover a total of 11,300 sq. m of living area. The construction will be founded on NCC’s guidelines for residential structures. The venture will have 91 parking spaces and garages.
According to Olle Boback, the President of NCC Housing in Germany, Pankow has a high level of commercial activity, besides being the biggest metropolis in Berlin that has shown good growth of late.
As per the schedule, one building will be finished and prepared for transfer and revenue realization in 2012 end and the other two buildings in 2013. The renting out will commence from August 2012.
The acquisition was executed by Industria Wohnen for a special fund for residential properties, “Energieeffizientes Wohnen” which invests in existent and developing projects that have a high level of up-to-date energy performance. The buyer will rent out the apartments.
BulwienGesa, a German market analysis organization, has found after a study that NCC is the one of the largest housing developers in Germany.