A single-family office has purchased the serviced apartment hotel Rioca Stuttgart Posto 6 located in the Mohringen submarket of Stuttgart from the joint venture between Geiger and i Live corporate groups. The property was completed in the first quarter of 2024 and measures c. 2,500m2 at Schockenriedstrasse 42. It was handed over to the operator, i Live Rioca Posto 6 GmbH, in March of this year.
The Rioca is the second of its kind in the state capital and combines micro-living with the hotel industry, offering guests 157 high-quality, fully furnished rooms with a Brazilian concept. The rooms include their own kitchen, modern bathroom, comfortable bed, smart TV, hanging chair, sound box music table, Stylegreen element, and access to a roof terrace with panoramic views, fitness area, underground car park with 31 parking spaces, and a Brazilian bar.
The Geiger Group acted as the general contractor and, in addition to the turnkey construction of the six-story building, had also previously carried out the complete demolition.
“We are very pleased that the sale was completed smoothly and within a very short time despite the current difficult market situation,” said Michael Kromphorn, Managing Director of Geiger Projektentwicklung GmbH & Co. KG. “We see this as an important milestone and positive confirmation of our successful acceptance on the market, even in difficult times.”
The transaction was brokered exclusively by FRANK Immobilien Stuttgart/Lindau. It was agreed not to disclose the purchase price.
“Since the focus of our business activities in all areas of the company is geared towards responsible and future-oriented action, sustainable project development is also included,” explained Roman Hohne, branch manager of Geiger Projektentwicklung Stuttgart.
This serviced apartment property was also developed and built according to modern energy and sustainability standards, such as KfW 55EE. This will soon be confirmed by a corresponding ESG certification according to DGNB. In addition, the building is also awarded a so-called LEED gold certification. LEED (Leadership in Energy and Environmental Design) is an internationally recognized certification system for ecological building. It certifies through independent third parties that a building was built and designed in an environmentally friendly manner.
Image provided by Geiger Group.
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