Trei Starts to Rent out its Apartments on Pappelallee in Berlin
Trei Real Estate GmbH (Trei), an internationally active property developer and property asset holder of residential and retail real estate, is pushing forward with its three large-scale developments of mixed residential/retail buildings in Berlin. The company just started renting out the 240 apartments at its “Port-o-Prenz” development on Pappelallee in the Prenzlauer Berg district. The retail unit on the ground floor has been handed over to the incoming tenant, REWE, in mid August. The supermarket opened its doors on 02 September. Prior to the construction activities by Trei, the plot was occupied by an obsolete single-storey supermarket.
At Winsstrasse 18, just a few hundred metres away, Trei is developing a total of 187 rental apartments along with retail units on the ground floor. The building activity – after minor delays for technical reasons – has resumed here. At the moment, shell and core are under construction. Until 2019, this site, too, was occupied by a dated single-storey supermarket.
The development at Fürstenberger Strasse 8 will create another 117 rental apartments. Here, the demolition of the old single-storey supermarket that used to stand at the site was completed in July 2020. Earthworks are set to start in the next step.
Overall, Trei is investing c. 200 million euros in the three developments described.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “The COVID-19 pandemic has had no adverse consequences for our three construction sites in Berlin. The developments on Pappelallee and Fürstenberger Strasse are progressing as planned, and the minor delay we experienced on Winsstrasse was unrelated to the coronavirus crisis. I’m pleased to report that the time has come to start renting out the first of these developments.”
Trei has a portfolio of 42 single-storey retail properties all over Germany under management. Morshuis went on to say: “We are currently checking out a variety of properties in central locations to see whether demolishing and rebuilding them would be a paying proposition – including several assets in Berlin.”
Parties interested in renting an apartment on Pappelallee may submit their application on www.port-o-prenz.com.