Instone Real Estate Group AG

  • WKN: A2NBX8
  • ISIN: DE000A2NBX80
  • Land: Deutschland

Nachricht vom 10.02.2020 | 07:30

SEETOR City Campus Nuremberg: Instone Real Estate to realise privately-financed residential ensemble with around 200 units - 97 subsidised residential units to be built by GBI Wohnungsbau


DGAP-Media / 10.02.2020 / 07:30

SEETOR City Campus Nuremberg: Instone Real Estate to realise privately-financed residential ensemble with around 200 units - 97 subsidised residential units to be built by GBI Wohnungsbau

- Construction due to start in spring with completion expected by 2023

- The SEETOR neighbourhood development is the first joint Instone and Sontowski & Partner project following the takeover of S&P Stadtbau by Instone

- The SEETOR residential tower signals an identity-creating, widely visible landmark

- GBI Wohnungsbau has substantial experience in subsidised residential construction

Essen/ Nuremberg/ Erlangen, 10 February 2020: Around 300 new residential units will be realised within the mixed-use SEETOR City Campus neighbourhood development in Nuremberg by 2023. Instone Real Estate, one of Germany's leading residential developers, will be building the project's 200 privately financed units in the quarter. This includes the SEETOR Tower, a striking residential high-rise which will define the landscape as a landmark easily visible from afar.

In addition, 97 residential units of the SEETOR City Campus will be subsidised. This part of the project was recently sold to Erlangen-based GBI Wohnungsbau GmbH, which will realise the project by creating apartments with two to four rooms.

"We are pleased that the Bavarian subsidy programme is enabling this cooperation of private project developers and is facilitating subsidised living in such an attractive quarter", Simon Hübner, managing director of GBI Wohnungsbau says. "This cooperation between Instone and GBI offers homes to those who currently have a hard time finding an affordable option in the overstretched housing market." GBI Wohnungsbau has substantial experience in subsidised residential construction. Its portfolio comprises around 1,000 units.

The entire SEETOR City Campus project is designed as a mixed-use quarter. The site situated on Ostendstrasse/ Dr.-Gustav-Heinemann-Strasse will be home to the residential units and provide roughly 25,000 square meters of commercial space which will cater to a hotel, offices, retailers and services plus shopping facilities, medical practitioners and restaurants. The publicly accessible SEETOR City Park is at the heart of the quarter and comprises around 7,400 square meters of designed green areas for use by the public.

SEETOR City Campus is the first large-scale collaborative project of Instone Real Estate and Sontowski & Partner Group, which will develop the commercial part of the site and which initiated the project. In summer 2019, the two companies had announced that Instone will be taking charge of Sontowski & Partner Group's residential property development which was united under S&P Stadtbau. In the meantime, S&P Stadtbau has been successfully integrated into the Instone Group. One element of the strategic partnership between Instone and Sontowski & Partner is that in large-scale mixed-use projects like the SEETOR City Campus Instone will always be responsible for the realisation of the residential part of the project.

Andreas Zeitler, who manages the Bayern Nord branch of Instone Real Estate, says about the project: "SEETOR City Campus will be exemplary for modern urban concepts where a variety of usages intermix and residential and commercial formats harmonize. We are excited to see Instone, Sontowski & Partner and GBI Wohnungsbau join forces for this project as strong partners."

The SEETOR City Campus plot measures roughly 19,000 square meters in size and is currently undergoing infrastructure and construction preparation measures. Construction will start in spring 2020. The project is expected to be completed during the first half of 2023.


About Instone Real Estate (IRE)

Instone Real Estate is one of Germany's leading residential developers and is listed in the SDAX. The company develops attractive multi-family and residential buildings as well as publicly subsidised housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors intending to buy and let, and institutional investors. In over 28 years, Instone Real Estate has successfully developed more than one million square metres. Around 360 employees work at nine locations nationwide. As of 30 September 2019, the company's project portfolio comprised 52 development projects with an expected total sales volume of roughly 5.4 billion euros and more than 12,000 units.

About Sontowski & Partner Group

As an initiator, project developer, builder and investor, Sontowski & Partner Group (S&P) spans the entire real estate value chain. Since 1984, S&P has realised complex projects in the commercial, residential and nursing real estate sectors. In addition, forward-looking start-ups and strategic cooperations have seen Sontowski & Partner develop into a major investment company that successfully implements regionally-proven real estate concepts on the domestic and international stage.

 

About GBI Wohnungsbau GmbH

GBI AG and its sister company GBI Wohnungsbau GmbH are developing hotel, apartment and residential projects. Since its foundation in 2001, properties with a volume of around EUR 1.9 billion have been sold or placed in Germany and Austria alone or jointly with partners. GBI AG's hotel project developments comprise more than 14,600 rooms. The company works for all relevant national and international brands from the budget to the upscale segments. The long-stay segment has grown particularly strongly. Since 2010, the SMARTments(R) brand has stepped up its commitment to the development and operation of micro-apartments for students, business travellers and private individuals.
GBI Wohnungsbau GmbH is active both in the field of SMARTments student, SMARTments living, and in classic subsidised housing construction nationwide. To date, 3,947 student apartment places have been completed or are under construction. In addition, there is the development of new SMARTments living projects. A significantly growing area of activity is the development of privately financed and subsidised rental housing with currently around 1,000 residential units at 18 locations. The parent company of GBI AG and GBI Wohnungsbau GmbH is GBI Holding GmbH, a wholly owned subsidiary of the Moses Mendelssohn Foundation. http://www.gbi.ag

 

Contacts for the press

Instone Real Estate
c/o RUECKERCONSULT GmbH
Michael Lippitsch
Wallstrasse 16
D-10179 Berlin
Tel.: +49 (0)30 2844987-47
Fax: +49 (0)30 2844987-99
E-mail: instone@rueckerconsult.de


Sontowski & Partner Group
Kirsten Bauseler
PR & Social Media
Tel: +49 (0)9131 7775-643
Fax: +49 (0)9131 7775-80
E-mail: kirsten.bauseler@sontowski.de

GBI Wohnungsbau
Wolfgang Ludwig
Tel.: +49 (0)221 29 21 92 82
Fax: +49 (0)221 29 21 92 83
mail@ludwig-km.de



End of Media Release


Issuer: Instone Real Estate Group AG
Key word(s): Real estate

10.02.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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