Two transactions worth around € 25.2 m have been contractually agreed.

CA Immo is selling a package comprising various sites in Berlin to the Berlin-based Groth Group for approximately € 12 m; in addition, another site in the Europacity district of the city will be sold to the transmission system operator 50Hertz for a total investment price of € 13.2 m.

The package sold to the Groth Group, which specialises in residential properties, comprises two development areas: the site in Lichterfelde-Süd and the Flottwell Living project at the new Gleisdreieck park in Berlin, both of which have strong potential for residential construction across a combined surface area of 975,600 sqm².

Meanwhile Europacity, the district developed by CA Immo, has attracted another company: 50Hertz, the trans-mission system operator responsible for northern and eastern Germany. 50Hertz plans to construct a new corpo-rate headquarters to accommodate up to 600 employees on the centrally located, 8,145-sqm site opposite Berlin's main station.

According to Dr. Bruno Ettenauer, Chief Executive Officer of CA Immo, “These sales are an extension of our portfolio strategy. While focusing on office properties, we continue to pursue our aim of significantly reduc-ing the proportion of development sites, which we call the land bank, in the portfolio”.

CA Immo contact person:
Susanne Steinböck
Tel.: +43 1532 590 7533
Email: Susanne.Steinboeck@caimmo.com
www.caimmo.com