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Berlin: Freiburg investor plans district for €200mn

Freiburg-based investor Norbert Flasch has begun construction of a 12,000 sqm office building at Salzufer in Berlin-Charlottenburg. The entire property at Gutenbergstrasse 13 is rented to the Federal Joint Committee, a decision-making body of the German health care system. The building owner, Salzufer C, an asset management company led by Flasch, indicated the investment volume to be approx. €40mn. The office building is just the beginning. On the other parts of the site, which the investor acquired several years ago, construction will begin on an additional five buildings, including three residential towers directly on the river Spree with a total area of 50,000 sqm. The total construction volume is approx. €200mn. Most of the buildings are held as fixed assets.

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