The property, which has now been acquired by ZAR Real Estate Holding, covers approximately 3,590 square meters and is located at Fürther Straße 330 - and thus in an up-and-coming district location in the west of Nuremberg near the city limits of Fürth. A special feature of the site is its location between the two major Franconian cities. Nuremberg's city center is only four kilometers away, and Fürth's city center is only three kilometers away.

The development of modern residential properties with a gross floor area of approximately 11,500 square meters is planned on the site. The power supply for the properties will come from renewable energy sources and meet the companies' consistent ESG criteria. Groundbreaking is scheduled for 2024.

The property is optimally connected to public transport - the Muggenhof subway station and the associated bus stop are just a few steps away. Nuremberg's main train station can be reached by train in eleven minutes, and Fürth's main train station in just five minutes. In addition, future residents benefit from an extensive local supply in the immediate vicinity.

"Our core competence is the creation of planning rights, where we focus on projects in major cities and economically strong upper centers. When it comes to realization, we like to rely on the know-how and expertise of local partners, which is why we are pleased to realize another project in Nuremberg with the P&P Group," says Martin Hofmann, CDO of ZAR Real Estate Holding. "Despite the current challenging market environment, our stable financing structure allows us to acquire attractive properties and projects like this one" adds Daniel Argyrakis, CFO of ZAR Real Estate Holding.

"With this project, we are once again creating modern and urgently needed living space in an attractive location in the middle of two major cities. The excellent transport links allow for high flexibility and mobility. We are pleased to continue our successful cooperation with ZAR Real Estate Holding through this promising project," says Michael Peter, CEO of P&P Group.

About ZAR Real Estate Holding

ZAR Real Estate Holding is a fully integrated developer for real estate projects operating throughout Germany with headquarters in Munich and branch offices in Berlin and Düsseldorf. The Munich-based company focuses on the acquisition of attractive sites in major German cities at an early stage in order to leverage value-creation potential through the active creation of building rights and realization. The aim is to create sustainable, livable living and working spaces through modern and attractive urban district development.

Further information on ZAR Real Estate Holding is available on request or can be found at www.zar-holding.com.

Media contact

PB3C GmbH
Karl-Philipp Jann
Medien- und Kommunikationsberatung
Tauentzienstraße 16, 10789 Berlin
jann@pb3c.com

München, 18. January 2023 - Real estate investor and developer P&P Group announces the sale of two residential projects:

In Munich, a plot of land with an existing building permit for a three-story apartment building was sold to a local developer. The project is currently planned to meet the "Effizienzhaus 40" energy standard. It is located in a very good residential area in the Hadern district and has excellent transport links to the nearby city center and the surrounding area of Munich.

In Nuremberg, P&P Group sold a partially refurbished residential property in the Höfen district to a private investor. The property, consisting of a five-story front building and a four-story rear building, is located in an up-and-coming neighborhood in the vicinity of the new city district "The Q" and is characterized by an attractive mix of different apartment sizes.

The parties agreed not to disclose the purchase price.

"The sale of the two residential projects shows that there is still demand in the market for high-quality residential projects. Thanks to the equity strength of the two investors, the transactions were completed quickly and smoothly before the end of the year. Transactions built on such a solid foundation can also be implemented without any problems in the current market environment. The market continues to need high-quality products and therefore our development pipeline is well filled for the coming years," says Christoph Dreyer, Managing Director at P&P Group.

About the P&P Group

P&P Group is an investor and investor platform with offices in London, Berlin, Munich and Fürth. The operating investor with excellent technical expertise and almost 30 years of history realizes complex portfolios in the residential, office and retail segments. The accumulated transaction volume to date amounts to €3.1 billion.

In addition to real estate, P&P Group invests in the asset classes of private equity and venture capital through its wholly owned subsidiary RIVUS CAPITAL. The overarching investment focus is on the real estate-related sectors of real estate, infrastructure and ESG. CEO and managing partner of the P&P Group is Michael Peter.

Media contact

P&P Group | Babette Wagner | Isaak-Loewi-Straße 11 | 90763 Fürth | Telefon: 0911 766061-47 | wagner@pp-group.com

PB3C GmbH | Jaroslaw Plewinski | Tauentzienstraße 16 | 10789 Berlin | Telefon: 030 726276-152 | plewinski@pb3c.com