La quotata tedesca Instone vende il progetto “Schoenhof Quarter“ , circa 250 appartamenti , a Francoforte

The listed residential developer Instone Real Estate has sold about 250 apartments to Bayerische Versorgungskammer (BVK) on a turnkey basis. The construction will be realised on a site named “Core Living” being part of the Schoenhof Quarter. The owner will be Bayerische Aerzteversorgung, which is held by BVK. The parties have agreed not to disclose the purchase price. The completion of “Core Living” is planned for 2023.

The roughly 7,000 square meters-large land plot is located in the centre of the “Schoenhof Quarter” and offers potential to accommodate 18,500 square meters in rentable space. With “Core Living” Instone focuses on the development of living space, on an area of 12,900 square meters. In addition to privately-financed residential units, 20 per cent of the apartments in this construction section are subsidised. Furthermore, two supermarkets will be built on an area of 3,800 square meters and 650 square meters might be used as offices. Additionally, a children’s daycare centre with 800 square meters will be realised.

Instone and Nassauische Heimstaette will cooperate in realising 2,000 residential units on 15 construction sites in total in the Schoenhof Quarter by 2024. The partners are aiming for high architectural diversity and quality. A vivacious blend combining subsidised units, privately-financed rental units and owner occupied apartments is planned. The Schoenhof Quarter is one of the largest residential development projects in Frankfurt.

Source  : Instone Real Estate