Berlin: Wulff and Casada sell 450 apartments to pension fund
The pension fund of Landesärztekammer Hessen has bought 448 apartments in Berlin Charlottenburg in a forward deal. The units are located in ten buildings with a total of about 37,000 sqm living space, which are to be completed by 2023. The seller is a joint venture of Otto Wulff and Casada, who was advised by Hogan Lovells. The pension fund was advised by SNP Schlawien. Engel & Völkers Commercial also consulted both sides. The project near Schloss Charlottenburg contains 14 buildings with 578 apartments. An investment volume of about €250mn was previously quoted. The units in four of the houses are being marketed individually.
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