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M&A Activity • Jul 10, 2018
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Media | 10 July 2018 07:45
Instone Real Estate Group N.V.: Instone project ‘Marie’ in Frankfurt launched for sale
DGAP-Media / 10.07.2018 / 07:45
Instone project “Marie” in Frankfurt launched for sale
– Instone to develop a total of 236 apartments in the popular Nordend district
– Sales volume expected to exceed EUR 200 million
– “Marie” to offer attractive condominiums in a new-build development
– In addition, rental apartments to be created in the refurbished former nurses’ residence
– Construction on track – project expected to be completed by late 2021
Essen/Frankfurt, 10 July 2018: Instone Real Estate has commenced, as planned, the sale of apartments for the “Marie” project. A total of 236 residential units are to be created on the site of the former St. Marienkrankenhaus hospital in Frankfurt’s Nordend. The listed residential development company expects the sales volume to top EUR 200 million.
Andreas Gräf, CDO of Instone Real Estate Group: “Given the exciting combination of old and new, we are able to use our many years of experience developing modern residential properties and our refurbishment expertise in realising this unique project. We are looking to create an attractive, contemporary living space in the popular Nordend district with our project.”
A car-free development with a protected inner courtyard is planned, consisting of 236 housing units, two day-care centres and an underground car park with 235 spaces. A total of 181 condominiums , project “Marie”, will be created in the new-build development. The building exterior will be modelled on the original architecture. Sales have been launched for the entire condominiums’ development, including one day-care centre. Moreover, in the former nurses’ residence Instone will develop 55 subsidised rental apartments as part of a refurbishment project and a second day-care centre. Following completion, these will be handed over to the municipal housing association ABG Frankfurt. Some of the condominiums in the “Marie” project will also be subsidised housing units.
Ralf Werner, Instone branch manager in the Rhine-Main region: “Construction is right on track. We are currently taking the initial measures needed to prepare for the structural work. We expect the project to be completed by late 2021.”
Interested parties can already get a first impression by checking out
About Instone Real Estate (IRE)
Instone Real Estate is one of Germany’s leading residential developers. Instone develops modern urban multi-family and residential buildings and refurbishes listed buildings for residential use. Instone develops and markets flats for owner-occupiers, private investors and institutional investors. In 27 years, we have successfully developed more than one million square metres. Around 300 employees work at eight locations nationwide. As of 31 March 2018, Instone’s project portfolio consisted of 45 development projects with an expected total sales volume of around EUR 3.4 billion and more than 8,000 units. Since February 2018 Instone has been listed in the Prime Standard at the Frankfurt Stock Exchange.
**Press contact
Instone Real Estate**
c/o RUECKERCONSULT GmbH
Franziska Jenkel
Wallstraße 16
10179 Berlin
Tel.: 030 2844987-61
Fax: 030 2844987-99
Email: [email protected]
End of Media Release
Issuer: Instone Real Estate Group N.V.
Key word(s): Real estate
10.07.2018 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | Instone Real Estate Group N.V. |
| Baumstraße 25 | |
| 45128 Essen | |
| Germany | |
| Phone: | +49 201 453 550 |
| E-mail: | [email protected] |
| Internet: | www.instone.de |
| ISIN: | NL0012757355 |
| WKN: | A2JCTW |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP Media |