Munich: Capital Bay buys serviced apartments in Freiham
Capital Bay has acquired a serviced apartment building in Munich for an amount in the mid-double-digit millions. The seller is a joint venture of SEG Development and Bull Capital. The facility is operated long-term by CB Micro Living. The new building located on a roughly 5,300 sqm lot on Hans-Steinkohl-Straße in the Freiham district has 331 serviced apartments measuring between 18 and 33 sqm. The property will be part of the new Micro-Living-Fonds of Capital Bay, which can be subscribed by institutional investors starting this fall. The target volume is about €300mn.
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