MPC Capital has substantially expanded the investment volume earmarked for its housing platform STAYTOO. This was announced by Rainer Nonnengässer, Head of the Micro Living division of MPC Capital, on occasion of the event “Investment and Development Trends: Student Housing in Germany” in Berlin.
Formed in July 2014, the joint venture with Danish real estate investor Sparinvest Property Investors will invest a total sum of up to €150 mln in Micro Living projects over the coming months. Their focus will be on German campus towns.
The first two STAYTOO projects are now under development in Nuremberg and Bonn, and will be ready for occupation by the 2016/2017 winter semester. In addition, the Hamburg-based asset and investment manager is analyzing locations elsewhere in Germany.
“It is important not to limit your investments to major cities. The square-metres prices for existing flats have increased considerably since 2009 – in some cities by up to 80%. The entry prices in metro areas like Berlin or Cologne are therefore very high whereas rental yields tend to be rather low,” as Nonnengässer elaborated the current market situation.
Source: MPC Capital