In a project partnership with property developer and real estate investor nowinta Bau GmbH, project developer and operator i Live Group sold the “Campus Village II” serviced apartment project to HanseMerkur Grundvermögen AG. Heuking Kühn Lüer Wojtek advised i Live Group on the transaction with a team led by Dr. Frank Baßler. The joint venture used crowdfunding on the Zinsland platform to finance the transaction.
On the Neu-Ulm property of about 2,307 square meters, 140 serviced apartments ranging in size from 21 square meters to 40 square meters are being built, which are to be ready for occupancy by spring 2022. The serviced apartments are aimed at working people planning to stay in the city anywhere from three days to two months. The apartments are fully furnished with kitchen equipment and basic services. Guests may book additional services such as cleaning or the car sharing concept. They will also have the opportunity of communicating with each other via an app.
i Live Group is one of Germany’s leading providers of micro-living concepts with the goal of offering people contemporary living quarters in optimal locations with a good price-performance ratio. The company sells its apartments as an overall project to investors or at apartment level to individual investors.
Counsel to i Live Group
Heuking Kühn Lüer Wojtek:
Dr. Frank Baßler (Lead, Real Estate),
Andreas Lutz (Real Estate), both Stuttgart
Fabian G. Gaffron (Tax), Hamburg