HanseMerkur Grundvermögen AG acquires Serviced Apartments in Berlin-Friedrichshain

Hamburg, April 2, 2019. HanseMerkur Grundvermögen AG has acquired 85 newly completed STAYERY brand apartments for one of its open-ended real estate special funds from a Cologne Kreer Development GmbH company in Berlin.

The property is located in the Holteistrasse in Berlin-Friedrichshain. The location in the coveted Boxhagener Kiez is characterized by a very good infrastructure and the convenient location between the S-Bahn stations Ostkreuz and Warschauer Straße. The building has 85 fully furnished apartments with community areas and a co-working area. The housing offer is aimed primarily at commuters and mobile young professionals. The operating company BD Apartment GmbH has leased the house under the brand STAYERY for at least 15 years. The asset takeover by the asset manager of the HanseMerkur Versicherungsgruppe has already taken place.

Johanna Frankenheim, the investment manager responsible for this deal at HanseMerkur Grundvermögen AG, says: “The advantages of the Friedrichshain district are well known; The demand for living space was, is and will be very high in the long term. We are therefore pleased that we have the very pleasant cooperation with Dr. Ing. Kreer and his team were able to continue with this investment after our first joint project in 2015 at the Heidelberg site. ”

Dr. Florian Kreer, CEO and founder of Kreer Development GmbH: “The STAYERY concept is primarily aimed at young, urban business travelers, for whom mobility and a community are more important than loyalty points and a dusty flokati rug. The fact that this concept goes live for the first time in Boxhagener Kiez from Friedrichshain is a logical choice of location. We are delighted that HanseMerkur Grundvermögen AG is the first institutional investor to invest in one of our STAYERY properties and we thank Ms. Frankenheim and the entire team for the renewed and trusting cooperation. ”

About HanseMerkur Grundvermögen AG
HanseMerkur Grundvermögen AG bundles all real estate activities of the HanseMerkur insurance group under one roof. It is responsible for the management of a significant, steadily growing real estate asset and is establishing special real estate funds and other investment vehicles in which other institutional investors can participate in addition to the insurance companies of HanseMerkur. Further information at www.hmg.ag.

About Kreer Development GmbH
Kreer Development GmbH is an owner-managed, independent real estate project developer based in Cologne. The development focus is on inner-city real estate and mixed-use neighborhoods. Further information on current projects and the purchase profile at www.kreer-development.de.

Under the brand STAYERY, BD Apartment GmbH operates and develops innovative boutique apartments for young professionals. The STAYERY homes offer a temporary home, hotel-like services and connectivity to a vibrant community in an urban setting. The company’s portfolio currently comprises 85 apartments in Berlin. The project pipeline includes some 300 additional apartments in Bielefeld, Cologne and Frankfurt. Further information at www.stayery.de.

Heinz-Gerhard Wilkens
Head of Corporate Communications
HanseMerkur insurance group
Siegfried-Wedells-Platz 1
20354 Hamburg
Tel .: + 49-40-4119 1691
E-Mail: heinz-gerhard.wilkens@hansemerkur.de