Berlin: Sales ban for apartments on Karl-Marx-Allee lifted

26/02/2019

Deutsche Wohnen may buy a large portion of the apartments on Karl-Marx-Allee in Berlin-Friedrichshain after all. The district court of Berlin lifted a temporary injunction against the controversial deal yesterday and “assumes that the petitioner no longer has material pre-emptive rights,” as stated in a release. The injunction had been filed in December by state-owned WBM in order to stop the sale of about 670 apartments to Deutsche Wohnen. The court decision does not mean that the group will be buying all of the apartments in the three apartment blocks. Many tenants have already exercised their pre-emptive rights — about 40 % of them according to the “Tagesspiegel” — either for themselves or for the so-called “deferred purchase” model, whereby the apartments are to be passed on directly to Gewobag, also state-owned. The decision by the district court can still be appealed.


TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 480,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.