CR Investment Management is investing in an undisclosed amount to buy a stake in a German-headquartered co-living operator.
The asset manager said it will take a stake in The Base, a company which focuses on urban locations in German cities and European metropolises.
Between now and 2025, The Base expects to open at least 15 schemes and around 5,000 units in Germany and elsewhere in Europe.
Alexander Lackner, MD of CR Investment Management, said: “Despite the ramifications of the coronavirus pandemic for the temporary housing market, we are convinced that the co-living segment will gain in significance in the long run.
“The trend toward flexible working and living formats is actually becoming even more apparent at the moment, and visibly so. The concept of The Base is certainly defined by a clear community focus, and offers attractive and versatile common-part areas.”
Florian Färber, founder and CEO of The Base, said: “It’s great for us to have found a partner in CR who supports us in our growth phase and who shares our vision of modern living and working.
“With ‘The Base’, we are developing stylish and functional co-living spaces that encourage social interaction and address the threat of lonesomeness in an urban environment.”
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