The parent company of QUARTERS, a U.S. co-living brand, has received a €1 billion ($1.1 billion) investment agreement for its European portfolio.
This initiative, the largest single co-living investment worldwide, is a key milestone in the firm’s growth and prelude to an American expansion projected for 2019.
Under the record-breaking announcement, Berlin-based MEDICI LIVING Group, one of the largest co-living service providers in the world, and Frankfurt-listed CORESTATE Capital Holding S.A. (CORESTATE), one of Europe’s largest real estate investment managers, have jointly agreed to invest €1 billion ($1.1 billion) of equity and debt in the co-living sector over the next three to five years, developing 35 new co-living assets across Europe.
“This investment is a breakthrough for the co-living sector worldwide,” said Gunther Schmidt, MEDICI LIVING founder and CEO. “The co-living sector has enormous potential — even greater than the co-working sec
