B3 core-team
Alexander Happ
Managing Directorand Partner
Alexander Happ began his real estate career 30 years ago in his parents’ property development company in Kiel, Germany. With knowledge of project development and technical implementation across all trades, he completed projects in Hamburg, Frankfurt, Düsseldorf/Köln and Berlin. As Managing Director of BUWOG Bauträger, he built up the Development platform in the German market which led to an IPO in 2015. After the acquisition by VONOVIA SE in 2018, he integrated the business segment into the group as Head of Development Germany. In 2019, he founded assiduus³ for ESG-compliant project developments and in 2023, together with Palmira Capital Partners, B3 Development GmbH for age-appropriate living.
Sandra Westermair
Business & Project Development
Sandra Westermair trained for 2.5 years as an estate agent at GWH Wohnungsgesellschaft in Kassel and worked there for a further 4 years in acquisitions and sales, particularly in EnBloc transactions. She was involved in setting up a residential property fund for institutional investors. After moving to Berlin, she joined assiduus³ in 2021 as a project controller focusing on reporting, digitalisation and business intelligence. As a real estate and business economist (IHK), she now works for B3 Development in the Business & Project Development department, where she is responsible for the commercial aspects at project level.
Christian Korak
Head of Investments CIO
Christian Korak has a degree in Corporate Management, Finance & Controlling and has been working in project development for around ten years. At BUWOG GmbH, he was responsible for controlling tasks as well as divisional planning and investor reporting. He then moved to the Management Board of the parent company Vonovia to accompany the integration of BUWOG and support strategic tasks. In 2020, he joined assiduus³ Development as Commercial Director & Partner, where he was responsible for commercial corporate management and project and fund management, among other things, in close cooperation with Alexander Happ. In a similar function he is now working for B3 Development.
Torsten Schult
Head of Construction Management
Torsten Schult has twenty years of experience in planning and realizing residential development projects in Germany and Austria. As an architect (AK Berlin since 2004), he has been responsible for numerous project phases, from early planning to execution. For six years, he worked as a technical project manager at BUWOG, where he oversaw various projects at different stages of development, including the Merlin Quarter in Falkensee with 473 residential units for senior living, senior co-living, and subsidized housing. In his current role as Head of Construction Management at B3 Development, he is responsible for technical project leadership and technical construction management.