Instone Real Estate, a residential real estate developer in Germany’s key metropolitan regions, has acquired two land plots in Hamburg and Munich. Thus, the company has expanded its existing project portfolio to an expected sales volume of ongoing projects when fully developed of approx. €3.4bn. Both acquisitions fit perfectly to the strategy of Instone Real Estate and represent a further milestone on the company’s way to grow its project pipeline.
Kruno Crepulja, CEO of Instone Real Estate: “Based on our unique pipeline and proven sourcing capabilities, we are well positioned for further profitable growth with strong returns. We continue to see significant opportunities to increase our current project portfolio of approx.€3.4bn. In order to increase our flexibility to accelerate our continued growth in the attractive German residential development market, we are exploring together with our owner Activum SG various strategic financing options. These options may include an IPO or a private placement of shares. However, we are not under time pressure, nor do we feel in any way compelled to take any action.”
On the land plot in Hamburg-Elmsbüttel (Schulterblatt 120) with an area of more than 4,000m², Instone Real Estate is planning to develop a new residential complex with approx. 120 units. The development project for the more than 7,300 m² property site in Munich-Perlach (Ottobrunner Straße 90/92) will include approx. 160 units and a daycare facility for children. The current portfolio of Instone Real Estate consists of around 50 projects with approx. 8,000 units, of which approx. 2,000 are already sold.
