Artprojekt purchased a 23,000 sqm plot as well as a run-down shopping center in Reinickendorf’s Cité Foch district from Hudson Advisors. The Berlin-based company plans to demolish the shopping center and build two residential schemes on the land, offering a total of 500 apartments. The project was designed by the Berlin architect Stephan Höhne. In September, Artprojekt and its Hamburg-based co-investor and financial partner, BNS Real Estate Capital, also acquired about 25,000 sqm of land near Alboinplatz in Schöneberg.
