Brookfield, through its real estate solutions strategy, participates in an inner-city residential development project in Cologne’s Marienburg district. The development is currently owned by real estate funds managed by Empira Group (Empira). The investment made by Brookfield will support the ongoing construction of the project, which is expected to complete by the end of 2027. In addition to the investment by Brookfield, the construction contract was secured for the whole project with MBN, a leading construction company.
The project will supply high-quality new-build apartments into a supply-constrained submarket that has seen strong population growth over the last ten years. A total of 752 residential units, alongside over 600 underground parking spaces, 5,000 square metres commercial units and a daycare centre, will create a vibrant neighbourhood that will feature green inner courtyards, open spaces and children’s playgrounds. Sustainability is an important feature of the development, and it has been designed to reach KfW 40 NH standard and DGNB Platinum standard.
Source: europe-re.com on the 10th of July, 2024
https://europe-re.com/brookfield-invests-in-resi-development-in-cologne-de/73232