Instone Real Estate has sold the commercial sites in Bonn’s west.side development to the real estate fund and asset manager Corpus Sireo Real Estate. The buyer will be developing around 40,000 sqm of gross floor space independently. Corpus Sireo will be building upon Instone’s convincing development concept. The parties have agreed not to disclose the purchase price. With this sale, Instone has achieved the next milestone in the development of this urban quarter after successfully obtaining building permission for the overall site. The Essen-based residential developer recently sold 275 rental apartments to Bayerische Versorgungskammer. Development works were launched in March 2018, and construction on the first lot of rental apartments will begin Q4 2018. By the end of 2021, almost 85 percent of all apartments will have changed hands as scheduled.
Picture: Instone Real Estate
