Hines Begins Leasing Process for 664 Residential Units in Berlin

(BERLIN) – Hines, the international real estate firm, is now leasing the residential units in the newly developing city quarter Südkreuz (”Stadtquartier Südkreuz”). By autumn 2020, 664 residential units for around 1,200 residents will be completed on a total area of 21,430 square meters. In addition to 335 privately financed rental apartments, the project will include 213 micro-apartments for students and 116 subsidized social apartments for rental. The apartment sizes will range from one and four rooms, with floorspace ranging from 19 to 115 square meters. There will also be 10,300 square meters of office and commercial space that has already been fully let, as well as a comprehensive range of community amenities. The first apartments are scheduled to be handed over to the new tenants as early as June. Together with rental experts from Bricks, Reos and Moovin, a unique online service platform was developed, with which Hines offers interested parties a virtual 360-degree tour.

The Stadtquartier Südkreuz is the first build-to-rent (BTR) project Hines has launched in Europe since the firm entered the residential market. Further projects are expected to be rolled out in key strategic locations across the continent, as Hines expands its portfolio in the living sector. Earlier this year Hines entered a JV partnership with QuadReal targeting BTR, student accommodation and serviced apartments, to accelerate its existing moves into this emerging and dynamic sector.

Joachim Wintzer, managing director at Hines, says: "The Stadtquartier Südkreuz is not only the first residential project of its kind in Europe undertaken by Hines, it is also significant for the urban development concept. We are creating new living spaces close to the city center, which Berlin urgently needs. In doing so, we will focus on the local social requirements and future needs for a cross-generational, cohesive living environment. Our objective is to provide future residents with maximum living comfort and lifestyle quality. Therefore, the city quarter Südkreuz combines innovative living trends and forms of living from all over the world in a unique form. We are building a lively quarter for young and old and are confident that we will achieve a diverse mix of future residents to follow the Berlin tradition.”

With the city quarter Südkreuz, Hines is setting new standards in residential construction with attractive community amenities that are absolutely unique. They will be available to the residents and make a significant contribution to creating a vibrant quarter for living. Examples include an extensively landscaped courtyard with a fully equipped pavilion that can be used as event room or outdoor kitchen. In the garden there will also be a playground for the younger residents. In addition, there is a comprehensive range of sports facilities, including a gym, as well as a bicycle repair shop, a parcel station, a music room, a communal roof terrace and many other amenities. A nursery with a projected 72 places is also planned, together with fully equipped co-working areas, an extensive e-mobility package (e-cars and e-bikes) as well as spaces for parking more than 1,000 bicycles. The Südkreuz-App, available exclusively for the residents in the quarter, will allow them to adapt the community offerings to their individual requirements at any time. The objective is to increase the district's attractiveness in the long term.

The quarter is also ideally connected to the A100 motorway, the Südkreuz railway station for local and long-distance travel and the future BER airport. The Berlin city center can be reached by public transport within minutes. In addition, a cycle path to Berlin Mitte along the S-Bahn line 1 is being planned. The city quarter offers a unique urban quality of life and is surrounded by nature reserves. The future tenants will enjoy an aesthetic concept, especially due to the variations in the façade elements of the individual buildings.

For further information about the city quarter Südkreuz please visit: www.südkreuz.com

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as an investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

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