Over 1,000 Staytoo student apartments sold to Harrison Street

MPC Capital in Hamburg has sold micro-living portfolios of more than 1,000 statue student apartments of Chicago-based real estate investment firm Harrison Street Real Estate Capital.

The apartments are located in Berlin, Bonn, Kaiserslautern, Leipzig und Nuremberg, with six purpose-built student properties. After the sale, the Micro-Living team of MPC Capital will continue to manage assets under the Satu brand.  

MPC Capital and Harrison Street have also agreed to form a joint venture that will see further investment in student properties across Europe.

MPC Capital plans to invest cash from the sale in development projects in Germany. They will also acquire new properties under the Staytoo brand for Harrison Street.

“With this transaction we have successfully completed the development cycle of student housing in Germany. Now we are planning to roll the model in other markets too, "Dr Roman Rocke, board member of MPC Capital AG commented.  

In the 2016/17 academic year, Steve Bon and Nuremberg opened. Stu Kaiserslautern and Leipzig are ready for business since autumn 2017. Two new stele properties will be opened in Berlin at the end of this year.