Urban Partners to develop 140-unit sustainable BTR scheme in Berlin
Northern European investment firm Urban Partners, through its Nordic Strategies fund V (NSF V), is to develop a 140-unit built-to-rent apartment scheme in Berlin’s Pankow district.
Urban Partners will lead on developing the 6,000 square metre residential quarter which will comprise four buildings with a total net living space of over 9,000 square metres. The modern apartments will offer predominantly two- and three-bedrooms, aimed at young families, and will be built in accordance with it's market-leading sustainability principles. Common rooms and a modern mobility concept complement the scheme.
Construction is scheduled to begin in early 2026 with completion targeted for the end of 2027. KondorWessels Berlin has been appointed to deliver the construction, and bdp real estate as the client's representative.
The real estate strategy focuses on markets with strong fundamentals and pronounced supply-demand imbalances. This project addresses the underserved German residential property sector and leverages the company's extensive expertise in living assets, particularly in project development and operations.
Wolfgang Ködel, Managing Director and Head of Germany, says: "Berlin, like many major cities, faces a significant shortage of modern housing. With this project, we are demonstrating how modern, sustainable rental apartments can help address this challenge in highly sought-after urban locations. By combining quality living standards and a strong commitment to sustainability, we are creating long-term value not only for future residents but also for urban development as a whole."
Urban Partners is committed to sustainable urban development across its real estate portfolio and strives to reduce greenhouse gas emissions in accordance with the Science Based Target Initiative for buildings. The project aligns with the company's ethos and aims to achieve BREEAM "Very Good", Efficiency House 40 with KFN funding, and EPC A+. Key measures include the use of environmentally friendly building materials, photovoltaic systems, heat pumps and energy-efficient operations.
The Pankow district is well-known for its unique blend of Berlin's cultural scene and quiet residential charm. It offers good schools, diverse shopping outlets, green spaces and several public transport options.
The development project is being financed by Urban Partners' NSF V Fund. It is currently the largest value-add real estate fund in Europe, totalling €3.65 billion.