i Live Group sells apartment project to HanseMerkur
A team led by Dr. Frank Baßler, Partner at Heuking Kühn Lüer Wojtek, advised i Live Group, one of the largest providers of lifestyle micro-living in Germany, on the sale of a serviced apartment project in Stuttgart-Zuffenhausen to HanseMerkur Grundvermögen. The apartment project is intended for open-ended special real estate fund HMS Grundwerte Wohnen Plus III.
172 serviced apartments ranging in size from 21 square meters to 40 square meters will be built on the site of about 3,428 square meters in Stuttgart. Completion is scheduled for spring 2022. In addition to fully furnished apartments including kitchen, as well as communal areas and basic services, guests will be able to network, make appointments, or book additional services via an app, which is already successfully used in the existing 22 properties in Germany. Upon completion, i Live Group will also be acting as the operator of the property.
i Live Group is one of Germany’s leading providers of lifestyle and micro apartments in. The company aims to offer people living quarters in optimal locations with a good price-performance ratio. i Live sells its apartments as an overall project to investors or at apartment level to individual investors.
The team led by Dr. Frank Baßler works for i Live Group on a regular basis. Most recently, the Heuking team advised i Live Group on the sale of a micro-apartment complex in Darmstadt.
Counsel to i Live Group
Heuking Kühn Lüer Wojtek:
Dr. Frank Baßler (Lead, Real Estate),
Andreas Lutz (Real Estate),
Dr. Nicole Armingeon (Public Law), all Stuttgart
Fabian G. Gaffron (Tax), Hamburg