HanseMerkur buys Stuttgart serviced apartment development

George Sell George Sell Uploaded 12 March 2020

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Germany: i Live Group has sold a serviced apartment project in Stuttgart-Zuffenhausen to HanseMerkur Grundvermögen.

The apartment project, which is yet to be built, is intended for open-ended special real estate fund HMS Grundwerte Wohnen Plus III.

It will feature 172 serviced apartments ranging in size from 21 to 40 square metres on a site of about 3,428 square metres in Stuttgart.

Completion is scheduled for spring 2022. In addition to fully furnished apartments including kitchen, as well as communal areas and basic services, guests will be able to network, make appointments, or book additional services via an app, which is already used in the existing 22 i Live properties in Germany. Upon completion, i Live Group will also be acting as the operator of the property.

 

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