At the end of November last year, Berlin-based Capital Bay GmbH acquired a hotel in Munich from local project developer Nunn Group for a mid double-digit million euro sum.
The hotel at Frankfurter Ring 20-22 is currently operated as a Park Inn by Radisson. The building currently has just over 3,000 m² of usable space with 81 rooms; after renovation and expansion, it will have around 4,100 m² and 119 units. There are also plans to integrate the property into a new development fund.
Christoph Geißler, CIO of Capital BAY, says: "Micro-living concepts in any form are still booming in Germany. This is mainly due to users' high demands in terms of flexibility. A-cities in Germany are particularly affected by this."
The hotel in Munich is located directly at the Frankfurter Ring underground station and is therefore ideally connected to public transport. The Research and Innovation Centre (FIZ), the BMW Group IT Centre and Knorr-Bremse are also located in the immediate vicinity.
