Micro-living specialist MPC Capital is to develop new assets, in Mainz and Hamburg.
The listed company, headquartered in Hamburg, will invest close to €50 mln on behalf of its instutional investors to develop the schemes.
The site in Mainz is in Issac-Fulda-Allee, next to the universities and Opel Arena. It will offer short stays and space to tourists and young professionals as well as students, in the 370 rooms.
In Hamburg, MPC Capital will develop a full-serviced apartment building for young professionals. The scheme is located in the Winterhude district next to they city’s Stadtpark.
Rainer Nonnengässer, managing director of MPC Micro Living Development, said the company tries to ‘reflect the wishes and requirements of young people who are studying or have just entered the professional world. We strive to find balance between flexibility and individuality as well as between the increasing sharing trend and the desire for privacy’.
Under the STAYTOO brand, the company has completed schemes in Leipzig and Berlin as well as Bonn, Nuremberg and Kaiserlautern, deploying around €150 mln.
At the end of 2017, MPC sold a portfolio of 1,000 beds to US investor Harrison Street, in which Colliers International recently took a 75% stake.
