Consus Real Estate AG signs forward sale agreement for Franklin House project in Berlin
Forward sale of office project to BNP Paribas REIM
Berlin, 14 February 2019 – Consus Real Estate AG (“Consus”, ISIN DE000A2DA414, CC1) has concluded a forward sale of the Franklin House office project in Charlottenburg to BNP Paribas REIM.
Consus is planning and executing a modern office building at the site in Charlottenburg, with around 11,000 m2 of rental office on six storeys and one mezzanine. The site at 26a Franklinstrasse is centrally located, with a total area of some 3,600 m2. Benefiting from outstanding infrastructure and excellent transport links, the site borders onto the River Spree and the Landwehrkanal. The Technical University of Berlin and other academic institutions are within walking distance, and public transport is well located.” With its pleasing appearance, central location and proximity to City West, this modern office building is attractive to potential tenants: its concept is based on a special construction grid that facilitates economical and flexible office uses such as Open Space, individual and group offices as well as combi and open plan offices” said Michael Tockweiler, member of the Consus Extended Management Board” and he adds: “Franklin House will meet the latest technical standards and the highest sustainability criteria; it will be certified “LEED Gold”.
“The successful forward deal with BNP Paribas REIM”, says Andreas Steyer, CEO of Consus Real Estate AG, “vindicates our decision to construct a sustainable office building on the Franklinstrasse site.”
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About Consus Real Estate AG
Consus Real Estate AG (“Consus”) a leading German property developer with EUR 9.7bn (GDV) in properties under development. The Company focuses on residential property in Germany’s top nine cities. Consus specialises in the development of entire neighbourhoods (‘quartiers’) and standardised flats. The use of forward sales to institutional investors and the digitalisation of construction processes allow the Company to operate along the entire property development value chain. Consus implements projects – from the planning phase through to construction and transfer of ownership, as well as property management and the associated services – via its subsidiaries CG and SSN. Consus Real Estate AG’s shares are listed in the Scale segment of the Frankfurt Stock Exchange and m:access segment of the Munich Stock Exchange and are traded on XETRA in Frankfurt, among others.