777 Capital Partners AG Takes Over the Asset Management of Newly Built Serviced Apartment Property 100 rooms in Frankfurt
Main Photo: The Numa Nook, Berlin Mitte one of the 27 Numa locations
Date: January 2022
Name: TBA
Location: Eschersheimer Landstraße, Frankfurt, Germany
Number of Keys: 100
Seller: Family office W5 Group, established in 2009, is the single-family office of prominent European real estate investor and entrepreneur Ralph Winter.
Buyer: 777 Capital Partners AG, a Baar-based investment manager and co-investor founded by Ralph Winter, Thomas Landschreiber and Micha Blattmann
777 Capital Partners AG is taking over the asset management of a newly built serviced apartment property with 100 rooms and a gross lettable area of almost 6,000 square metres in a central location of Frankfurt. 777 Capital Partners appointed the internationally active NUMA Group as operator, which has signed a long-term lease agreement.
The operation of the serviced apartments is expected to start shortly. The property was acquired from a seller consortium by family office W5 Group. The parties have agreed not to disclose the purchase price.
Thomas Landschreiber, partner and co-founder of 777 Capital Partners: “With this project, we are expanding our portfolio with a promising apartment complex in an absolute prime location. The great accessibility, modern facilities and high density of businesses in the immediate vicinity make the project an attractive accommodation – both for business trips and for leisure travellers.”
The 100 apartments operated by NUMA have an average area of around 30 square metres. The building also contains a café with an adjoining Pilates studio. The location, not far from the Eschenheimer Tor, is only a few steps away from the city centre and the banking district. The prime shopping streets and the historic old town are also within walking distance. The building is very well connected to public transport, including the nearby main railway station, with direct connections to Frankfurt Airport.
Berlin-based NUMA is a leading European operator of serviced apartments. NUMA operates over 2,300 units in European A-cities, including Berlin, Frankfurt, Munich, Rome, Milan, Madrid, Barcelona, and Vienna.
Price: Undisclosed
THPT Comment: Numa have introduced their proprietary full-stack software suite and have over 80% of their internal processes, from booking and room allocation to housekeeping and accounting and have done well to date with Frankfurt being their 27th location.
First Seen: 777 Capital Partners press release
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