ARCADIA sells neighbourhood development to VAKON

17 August 2021

ARCADIA sells “Stargarder Höhe” neighbourhood development in Neubrandenburg to VAKON Baugesellschaft mbH

The real estate developer ARCADIA Investment Group has sold the approximately 140,000 square metre site of the planned “Stargarder Höhe” neighbourhood development in Neubrandenburg as part of a share deal. The buyer is the Neubrandenburg construction company VAKON Baugesellschaft mbH, which is already building multi-family and terraced houses for rent and sale in the immediate vicinity of the property. The construction area is located on Obodritenstraße / Ranenstraße and forms the end of the already completed, adjacent residential development along Lutizenstraße. VAKON plans to build 82 building plots for single-family houses, semi-detached houses and terraced houses. The parties to the contract have agreed not to disclose the purchase price.

The property development on the site has already begun in mid-June 2021 and will be continued by the new owner without interruption. Parallel to this, archaeological work is being carried out on parts of the site by Archäologie in Mecklenburg-Vorpommern GmbH. ARCADIA acquired the site from the Institute for Federal Real Estate at the end of 2019 as part of a tender process. In the past months, comprehensive planning services have been provided in order to implement the project in a timely manner. “We are pleased to have found an experienced and regional developer for the project and are confident that VAKON will successfully complete the project,” explains Alexander Folz, managing partner of ARCADIA.

VAKON Baugesellschaft mbH

As a subsidiary of the Dutch Vastbouw Group, VAKON Baugesellschaft mbH has been active in the development and implementation of sophisticated building projects since 1995.

With a team of over 30 employees and a network of local companies, more than 1,000 high-quality flats, single-family houses, modernisations, holiday homes and also neighbourhood developments have been realised in the past 25 years, especially in Neubrandenburg and on the island of Usedom.

The services include, in particular, the creation of building law, conceptual planning and their timely implementation with their own craftsmen. The company’s philosophy is to develop and implement sustainable projects together with partners and clients “as a construction team”.