MPC Capital further expands micro living strategy
2 October 2018
- Investment of circa EUR 50 million in two new assets in Mainz and Hamburg
- Complementing the existing strategy with student hotels and short-term accommodation
Hamburg, 2 October 2018 - MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4) is expanding its micro-living strategy with the development of two new schemes in Mainz and Hamburg. The Hamburg-based asset and investment manager plans to invest close to EUR 50 million in the two locations on behalf of its institutional investors.
Both projects stand out from the apartment buildings in Bonn, Nuremberg, Kaiserslautern as well as the ones in Leipzig and Berlin that have so far been completed under the "STAYTOO" brand, given they break MPC Capital's trend of investing only in student housing.
Upon completion, the scheme in Mainz will comprise of a student hotel with around 370 rooms. The site is located in Issac-Fulda-Allee, immediately next to the universities and the Opel Arena. The completed asset will also enable shorter stays and offer space to tourists and young professionals as well as students. The young, lively design and living concept will be complemented by sharing offers, fitness and lounge areas as well as a restaurant and bar. Construction is due to start at the beginning of 2019 and completion is scheduled for 2020.
In Hamburg, MPC Capital will be developing a full-service apartment building for young professionals. The scheme will be located in the Winterhude district. Centrally located between Hamburg's scenic Stadtpark and the lively centre of Winterhude, the project will offer accommodation for young people who want to live and work in a lively urban environment. Construction of the scheme is scheduled for mid-2019 and practical completion is planned for 2020.
Rainer Nonnengässer, Managing Director of MPC Micro Living Development GmbH: "With the completion of the two new projects in Mainz and Hamburg, we are taking the concept of living in a small space a step further. Our properties reflect the contemporary wishes and requirements of young people who are studying or have just entered the professional world. We strive to find balance between flexibility and individuality as well as between the increasing sharing trend and the desire for privacy".
To date, MPC Capital has deployed around EUR 150 million in micro-living projects. At the end of 2017, an existing portfolio of about 1,000 beds was sold to the US investor Harrison Street. MPC Capital continues to be responsible for the management of the properties. Together with international institutional investors, MPC Capital plans to purchase additional development and portfolio projects in Germany and selected European countries.
About MPC Capital AG (www.mpc-capital.de)
MPC Capital AG is an internationally active asset and investment manager specialising in real asset investments. Together with its subsidiaries, the company develops and manages investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 270 employees group-wide.