Cube Real Estate sells the “Central 378” district development in Düsseldorf to the ZBI Group as a forward deal
Leverkusen / Düsseldorf, 18.10.2022 – Cube Real Estate GmbH (Cube) has sold the mixed-use urban quarter Cube Central 378 on Erkrather Strasse in Düsseldorf to ZBI Zentral Boden Immobilien Group for the open-ended public AIF “UniImmo Wohnen ZBI”.
The sustainable neighborhood development has a site area of approx. 6,100 m². Residential, office and commercial space is planned here. The project is scheduled for completion in 2025. The parties have agreed not to disclose the sale price.
“With the forward deal for Cube Central 378, we are adding a modern urban quarter with an innovative and sustainable concept to our development portfolio. In addition to the positive environmental aspects of sustainability, the quarter will meet the needs of different interest groups and thus also social responsibility, in particular by offering public and affordable rental apartments,” says Christian Reißing, Chief Development Officer at ZBI.
For the concept of the urban quarter, Cube founded the “Planwerkstatt 378” planning group with local residents in advance in order to take the needs of the users into account. Together, they designed a mixed-use district that meets the needs of students, young professionals and families as well as senior citizens, businesses and artists. In June 2020, the jointly developed urban quarter of Planwerkstatt 378 was approved by the district council.
A total of 116 furnished apartments, 28 apartments, 22 socially subsidized and 11 price-controlled apartments are to be built on the approx. 13,100 m² of living and usable space. In addition, around 5,500 m² of modern office and commercial space for restaurants and art and culture studios are planned. In addition, a publicly accessible green space is to be created, which will offer further recreational opportunities.
Jean-Marc Fey, Head of Acquisitions & Sales and Project Management at Cube Real Estate, says: “With Cube Central 378, we have created a very special urban quarter that combines a good mix of uses, energy efficiency and short distances and meets the needs of the people who live there. The early sale to a renowned investment house speaks for the quality of the project.”
The law firm P+P Pöllath + Partners was involved in the transaction on the side of the ZBI Group as well as Loschelder Rechtsanwälte and the tax consultancy and law firm Ecovis KSO on the side of Cube Real Estate. The transaction was accompanied by Jones Lang LaSalle.
Cube Real Estate GmbH
“We love development” – three words that are Cube Real Estate stand for conviction, passion and responsibility. Since 2013, we have been setting standards in real estate project development with our cheeky, wild and wonderful 100-strong team. Our motivated employees and our committed business partners and investors are united by a passion for sustainable living spaces that are worthy of the name. This is why we are successfully realizing a project volume of currently 2.4 billion euros on our growth path. With a focus on apartments as well as neighborhood and building land development, people are at the heart of everything we do. This applies to our parent company Cube Real Estate as well as to our local companies Cube Real Estate Nord and Cube Real Estate Mitte and our subsidiaries Cube Property Services, Cube Life and Cube Easy-E, 2CP Cube Capital Partners, Cube Land Development and Cube-Wood gGmbH. The holistic playing field for the successful Cube team: the complete life cycle of real estate.
Press contact
Cube Real Estate GmbH
Simone Schroeder
Phone: +49 2171 75 34 114
Mobile: +49 151 670 31 333
E-mail: schroeder@cube-real.estate
About the ZBI Zentral Boden Immobilien Group
With more than 20 years of experience in the residential real estate market, the ZBI Zentral Boden Immobilien Group is one of the leading specialists for German residential real estate. The Erlangen-based issuing house has been successfully designing real estate funds for private and institutional investors since 2002. The ZBI Group pursues the goal of strengthening participation, longevity and commitment in the form of a new “community of value” for investments and housing. ZBI Group currently employs more than 850 people at 36 locations in Germany, Luxembourg and Vienna. The Group currently manages around 61,000 residential and commercial units. The transaction volume realized to date is around eleven billion euros.
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