Largest deal in JLL Residential Development’s history
24 condominiums in Embassy sold to private investor
JLL Residential Development has sold an entire section of the six-building Embassy residential scheme in Berlin-Mitte to a private investor. The section comprises a total of 24 apartments and has been sold for €12 million. Embassy is being developed by Adam Europe and comprises 133 residential units, which are generally being marketed as individual condominiums. Embassy is located in Berlin-Mitte’s diplomatic quarter, next to Köllnischer Park and close to numerous embassies. The property’s condominiums will be ready for occupancy in spring 2021.
Helen Lindner, Head of Residential Development Germany, says: “This is the largest deal in JLL Residential Development’s history. We couldn’t have done it without our strong international network. What’s more, this deal sends out a particularly positive signal in these troubled times: residential assets are still in high demand, even in the midst of the Covd-19 pandemic.”
Karina Gutman, COO Adam Europe, says: “The decision to appoint JLL to provide sales and marketing services was definitely the right one. The sale of the building section is a milestone in the project’s history. The successful completion of the project is now within touching distance.”
About Adam Europe
Adam Europe Real Estate Investment, part of Adam America Real Estate Group, is an owner, developer and manager of real estate projects in Europe. Its portfolio includes residential projects as well as office, commercial and mixed-use properties. In Germany, the company has already completed projects in Frankfurt a. M. and Berlin, including Mulberry Yards in Berlin, 117 apartments near Kurfürstendamm.
About JLL Residential Development
JLL Residential Development Germany is part of the JLL Group, a global real estate services, consulting and investment management company. The JLL Residential Development team specializes in advising German and international clients on the purchase of premium condominiums in Germany’s most exciting cities. JLL Residential Development also advises project developers on the design, implementation and global marketing of their new residential developments. JLL’s industry-leading network and decades of market experience enable JLL Residential Development Germany to provide complete support from a single source.
Jasmin Wagner, JLL Residential Development
+49 30 203980 723