
From Click to Crisis: How Typosquatting Targets German Businesses Online
Section: Business
The insolvency of the prominent Berlin real estate company Ziegert has led to the acquisition of eight of its construction projects by British private equity firm Arrow Global. This acquisition is part of Arrow Global's strategic expansion into the German real estate market, specifically focusing on residential development.
Arrow Global has confirmed that it will oversee several key projects, including developments located at Kiehlufer in Neukölln and Goslarer Ufer in Charlottenburg. The firm announced the purchase of these projects on Thursday, emphasizing that all eight sites are currently undergoing planning procedures.
At the Kiehlufer site in Neukölln, Arrow Global plans to develop a substantial area covering 12,150 square meters, with an estimated total gross floor area of 36,000 square meters. Approximately 80% of this area is designated for residential use, while the remaining 20% will be allocated for commercial purposes.
Similarly, at the Goslarer Ufer site on Mierendorffinsel, the company intends to construct approximately 20,000 square meters of gross floor area on a 6,000 square meter plot, with the same residential-to-commercial ratio as the Kiehlufer project.
In addition to the property developments, Arrow Global has acquired the brand rights associated with Ziegert's brokerage and financial consulting services, as well as the website of the nearly 40-year-old firm founded by Nikolaus Ziegert.
The insolvency proceedings for various companies within the Ziegert Group were initiated by the Charlottenburg District Court on June 1, citing insolvency and over-indebtedness as the primary reasons. In a related development, it was revealed that the American investment firm H.I.G. Capital is also interested in acquiring significant portions of Ziegert's real estate portfolio, contingent upon approval from the Federal Cartel Office.
This acquisition marks a critical moment in Berlin's real estate landscape, as the city continues to grapple with housing shortages and increasing demand for residential properties. The focus on residential construction in urban areas reflects broader trends within the industry, aiming to address the housing crisis affecting many German cities.
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