P&P Group

P&P Group sells another project with 121 flats in the German City of Nuremberg and successfully concludes the 2024 financial year - Completion of the property is already planned for the end of 2025

Issuer: P&P Group / Key word(s): Real Estate/Expansion
P&P Group sells another project with 121 flats in the German City of Nuremberg and successfully concludes the 2024 financial year - Completion of the property is already planned for the end of 2025

21.01.2025 / 07:39 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Nuremberg/Fürth (Germany), 21.01.2025 - Project developer P&P Group successfully sold a residential project under construction in Kreuzsteinstrasse in the German city of Nuremberg shortly before the end of last year. 121 units will be built in the south-west of the Bavarian metropolis by the end of this year, each with one to three rooms and ranging in size from 28 to 80 square metres. The new owner of the project in the Schweinau district with almost 7,000 square metres of living space and 57 underground parking spaces will be a fund managed by Tishman Speyer for an institutional investor. ‘With this project development, we are creating an additional residential offering in an increasingly sought-after location in the metropolitan region,’ says Christoph Langfritz, CIO of the P&P Group. The project site is already within walking distance of retail outlets in various segments as well as the infrastructure for other services and leisure facilities. Kreuzsteinstrasse also offers excellent transport connections: Both via the A73 motorway and the Schweinau underground and S-Bahn stations, which provide fast local and long-distance public transport connections. ‘The fact that Schweinau is one of the city's up-and-coming locations in this area is also demonstrated by the demand for other P&P Group projects in the south-west of Nuremberg,’ says Langfritz: ’The property is being built by the P&P Group in accordance with KfW's KfN - QNG specifications, meaning that the investor is acquiring a sustainable property. The P&P Group sees its strategy confirmed with sales successes such as those in Nuremberg's Kreuzsteinstrasse. ‘In such up-and-coming neighbourhoods, where residential space is also being created in areas that were previously often used for commercial purposes, the signs are very positive for further developments,’ emphasises Langfritz. ‘Here in Schweinau, we identified potential very early on in order to be able to provide future tenants with attractive offers.’ Amanthos Immobilien, based in Stuttgart, acted as agent for the transaction.   About the P&P Group:
The P&P Group has been developing, revitalising and marketing residential construction projects and commercial properties for almost 30 years. With a total transaction volume of more than 3.3 billion euros and currently around 100 employees, P&P covers all areas of the value chain as an initiator, investor and asset manager. Its core competencies include the development of new buildings as well as the revitalisation and modernisation of old buildings worthy of preservation.

Press contact:
Babette Wagner
Isaak-Loewi-Straße 124
90763 Fürth (Germany)
Tel.: +49 (0)911 – 76606147
Mail: [e-mail]

Wolfgang Ludwig
Mathias-Brüggen-Straße 124
50829 Köln (Germany)
Tel.: +49 (0)221 – 292 19 282
Mail: [e-mail]

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