MPC Capital AG has sold a portfolio of more than 1,000 student apartments in German university cities to Harrison Street Real Estate Capital.
The properties are located in Berlin (2x), Bonn, Kaiserslautern, Leipzig und Nuremberg. The properties in Nuremberg and Bonn have already opened their doors for the 2016–2017 academic year. STAYTOO Leipzig and STAYTOO Kaiserslautern have been ready for occupation since autumn 2017. The opening of the two locations in Berlin is planned for 2018.
Under the terms of the joint venture between MPC Capital and Harrison Street, the apartments marketed under the STAYTOO brand will continue to be managed by MPC Capital’s Micro-Living team following the sale.
Accordingly, MPC Capital is actively seeking to expand the portfolio under management. The free cash proceeds from the sale are to be reinvested in project developments in Germany and a stable pipeline already has been identified. Existing properties are to be acquired for
