Over 1,000 Staytoo student apartments sold to Harrison Street

Hamburg-based MPC Capital has sold its Micro-Living portfolio of more than 1,000 Staytoo student apartments to Harrison Street Real Estate Capital, a Chicago-based real estate investment firm.

The apartments are located across six purpose-built student properties in Berlin, Bonn, Kaiserslautern, Leipzig und Nuremberg. Following the sale, MPC Capital’s Micro-Living team will continue to manage the properties under the Staytoo 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. We now plan to roll out the model in other markets as well,” commented Dr. Roman Rocke, Board Member of MPC Capital AG.  

Staytoo Bonn and Nuremberg opened in the 2016/17 academic year. Staytoo Kaiserslautern and Leipzig have been ready for occupation since autumn 2017. Two new Staytoo properties will open in Berlin later this year.