Real Estate

MPC Capital: STAYTOO opens first apartment house for students in Berlin

14 May 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.


    Hamburg/Berlin, 14 May 2018 - STAYTOO has opened its first apartment building in Berlin. STAYTOO Berlin is located in Dudenstraße and offers 154 apartments with living spaces between 17 and 24 sqm. Rental prices for the furnished units start at EUR 599 per month, vary depending on the size and location within the building and already include all ancillary costs such as heating, water, electricity and high-speed Internet access. The use of the fitness and common rooms is also included in the price.

    The first students have already moved into their apartments. In addition to further STAYTOO locations in Bonn, Nuremberg, Kaiserslautern and Leipzig, the fifth STAYTOO property has now opened in Germany.

    The apartment house was realized in cooperation with HD Projektentwicklungs GmbH as part of the development "Am Lokdepot". A walk through the neighbourhood shows the diverse attractions that Schöneberg, Kreuzberg and Potsdamer Platz have to offer. During the day, the areas of Winterfeld, Crelle, Bergmann and Yorck invite you to their sometimes classy, sometimes cool cafés and shops, while people enjoy the evening in the legendary bars and clubs.

    New in STAYTOO Berlin is the "WeWash" concept for the Washing Lounge, which is contributed by BSH Hausgeräte GmbH, a member of the Bosch Group. An app shows whether machines are currently available and sends notifications as soon as the laundry is ready. The comfortable ambience of the Washing Lounge and a selection of various coffee specialties invite you to linger. "We are proud to have found in Bosch a partner that meets the needs of our student tenants with innovative concepts. Now we are striving for further partnerships with student-relevant services and manufacturers," comments Christian Scheuerl, Managing Director of MPC Micro Living Development GmbH. 

    The Hamburg-based asset and investment manager MPC Capital is responsible for the development and marketing of the STAYTOO apartments. Together with institutional investors, MPC Capital has built a platform for micro-apartments to create high-quality and affordable housing for students. The guiding principle is to optimally combine the areas of studying, working and living. All STAYTOO properties are characterised by modern apartments that offer space for individuality. At the same time, common areas for learning, having fun and chilling allow social contact among students at all times.

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    Contact

    Stefan Zenker
    Head of Investor & Public Relations

     +49 (40) 380 22 - 4347

     s.zenker@mpc-capital.com