PANDION has acquired a plot of land in Asperg, north of Stuttgart, from the Heilbronn-based project developer Classic Unternehmensgruppe. The 16,612-square-meter site is located at the foot of the Hohenasperg, which is known throughout the country for its medieval fortress. A new residential district with 252 apartments as well as smaller commercial units is now being built on the site, which was formerly used for commercial purposes.

PANDION completes the “BelsenPark” district with the purchase of a property in Düsseldorf-Oberkassel. PANDION AG, the Cologne-based property developer, purchased a 46,500 square metre property in Düsseldorf-Oberkassel from the real-estate companies CA Immo Deutschland GmbH and Quantum Immobilien AG in December 2020. Klaus Küppers, the Manager of PANDION’s Cologne branch office, explains the decision to buy the property in a nutshell: “What began in the first part of BelsenPark with our ‘Parkside I + II’ projects is being brought to a conclusion with the plans for the ongoing development of ‘BelsenPark II’; things really couldn’t have turned out better for us. This new project in Düsseldorf-Oberkassel fits into our portfolio of mixed-use districts in prime inner-city locations perfectly. This brings together our entire expertise in the field of urban residential and working worlds, and we are delighted to open up a new urban space for Düsseldorf at this location.” Building work is scheduled to start on the site at the beginning of 2023 and completion of the last stage of development is planned for 2027.

With a target volume of 30 million euros, PANDION is issuing a corporate bond for the first time. The securities prospectus required for the issue was approved by the Commission de Surveillance du Secteur Financier (CSSF) and notified to the German Federal Financial Supervisory Authority (BaFin). IKB Deutsche Industriebank AG is acting as Sole Lead Manager.

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