6B47 project portfolio goes to the Gröner Group
6B47 Real Estate Investors AG has sold a package of three housing projects involving almost 50,000 m² of floor space to the Gröner Group. This includes a project on Freischützstrasse in the Munich district of Johanneskirchen, a property in Karlsfeld on the north-western outskirts of Munich and a site on Kleine Eiswerderstrasse in Berlin-Spandau.
For the Gröner Group, this acquisition represents its entry into the Munich market and thus heralds the beginnings of another attractive business location. The undertaking on Freischützstrasse was previously being managed by a joint venture of both transaction partners led by 6B47. It has a residential focus and covers a floor space of approx. 13,100 m², with around 2,000 m² of this earmarked for commercial use. The Karlsfeld project forms part of the urban development taking place on the “Ludl” site, which is seeing the creation of 14,300 m² of living space. The 11,500 m² site on Kleine Eiswerderstrasse will allow the Gröner Group to contribute its core expertise in combining new buildings and historical structures in its home city of Berlin.
All sites included in the transaction package come with building and/or planning permission or are already in the implementation phase.
Kai-Uwe Ludwig, COO of 6B47 Real Estate Investors: “We are delighted that this transaction has gone ahead under such difficult market conditions and especially in these times. While the Gröner Group has already been a joint venture partner in the Freischützstrasse project for some time, the other two projects are also a perfect fit for its search and acquisition specifications. The appeal of such a large package sale that could be transferred to one partner firm ultimately swayed us from our original plan of implementing the projects ourselves.”
Christoph Gröner, Managing Director of Gröner Group GmbH: “The 6B47 project portfolio fulfils several key strategic criteria for us: with Freischützstrasse, for instance, we are now able to supply much-needed affordable housing in Munich, which is an important business location for us. Kleine Eiswerderstrasse in Spandau, Berlin, on the other hand appeals to our core expertise of introducing historical commercial spaces to the housing market with great success. By contrast, the site in Karlsfeld in particular fits with our efforts to completely digitalise construction and integrate serial manufacturing processes as well as our commitment to site-specific environmental and economic planning.”
The Gröner Group’s interest in the complete package meets with a complementary strategy from the vendor side at 6B47. The project developer based in Austria usually handles construction itself, as seen currently in Munich’s Harlaching and Lehel districts. However, in some cases it also secures development rights when a suitable market opportunity that can be linked to larger transactions presents itself.
The two parties have signed a non-disclosure agreement that prevents them revealing the total purchase price or the sums involved for each individual site. 6B47 was advised by law firm GÖRG.
About the Gröner Group
Gröner Group GmbH draws on more than 25 years of experience to give shape to forward-thinking property developments. The group’s emphasis is on creating affordable housing and living spaces. Alongside the digital reorganisation of the construction and property industry using BIM and its sister field of prefabrication, the company is committed to achieving as neutral a carbon footprint as possible.
Through its subsidiary CG Elementum AG, the Gröner Group has access to a company-owned service provider for sustainable and digital construction. CG Elementum provides a full range of services in new construction, conversions and the renovation of old and listed buildings for the group’s in-house projects and to third-party companies.
The Gröner Group has its headquarters in Berlin. With seven branch offices and around 400 employees, the company is forging ahead with more than 80 project developments throughout Germany with an overall development volume of around five billion euros.
About 6B47 Real Estate Investors
6B47 Real Estate Investors is a global property developer based in Vienna and with offices in Dusseldorf, Berlin, Munich and Warsaw. Its business activities are concentrated in metropolitan areas in Austria, Germany and Poland. The company currently administers a project volume of around 1.6 billion euros, making it one of the most significant providers in this sector in those countries. It covers the entire value chain, from project development to implementation and sale. The company’s business model also encompasses property financing as an integral component of project development.
At the time of writing, 6B47 is developing premium properties in the major German cities of Dusseldorf, Berlin and Munich, with a focus on new building construction and revitalisation in the areas of housing and commercial projects as well as hotel developments. Examples of current projects are the LITE Berlin, the NewH office building in Dusseldorf and the exclusive Will No. 16 residential project in Munich.
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