Investment, asset, property and facility manager Capital Bay Group has formed a joint venture for property sales with property marketing specialist PP Projekte Partner.
The new platform, Capital Bay Sales, will focus on divesting sustainable micro living products built by Capital Bay in cooperation with its strategic partner Daiwa House Modular Europe. The target groups are private and semi-professional investors.
'Together with Daiwa House Modular Europe, we are building sustainable, circular housing concepts in modular construction, thus creating much-needed living space more quickly than with conventional construction methods,' said George Salden, CEO of Capital Bay.
'With PP Projekte Partner, we have a strong partner with years of sales experience, a large distribution network and effective sales strategies at our side, with whom we can now also offer our residential products and commercial housing products to private investors,' Salden added.
'The sale of properties in partial ownership and digital tokenisation will address a broader investor base and create additional financing options for projects.'
'We are very pleased to be working with Capital Bay and also with Daiwa House Modular Europe, two major players in the real estate market. Together we will develop innovative and sustainable solutions,' said Patrick Holze, managing director PP Projekte Partner.
The initial sales portfolio consists of around 200 serviced apartments of the operator brand Stayurban, which are part of a new development quarter in an inner-city core location in Magdeburg. The district is a response to the strongly growing demand caused by the settlement of the American computer chip manufacturer Intel.
In several construction phases, Capital Bay and Daiwa House Modular Europe are realising a total of 36,000 m2 of rental space with various types of housing for young and old as well as diverse commercial uses.
Most of the new buildings will be constructed in modular design and equipped with an innovative heating, cooling and ventilation system in order to be KfW 40NH compliant and to achieve the DGNB Platinum standard.
