Bonava Sells 71 Rental Apartments in Berlin
Sweden Bonava is selling a residential project in Berlin, Germany, to the housing company Gewobag. This is the first project sold to Gewobag and consists of 71 rental apartments and four commercial premises. The sale price totals about MSEK 120 (EUR 12M).
Of the 71 rental apartments, 55 apparments are dedicted to Berlins new model for people with lower incomes. The area which Bonava is devloping is a part of Schöneberg and is close to green areas but also to the pulse of the inner city, with Berlin only 20 minutes away by public transport.
The project is expected to be handed over to the customer and recognised in profit in the second quarter of 2020.