05.01.2018 08:30:08

DGAP-News: MPC Münchmeyer Petersen Capital AG

DGAP-News: MPC Capital sells Micro Living portfolio and forms Joint Venture with Harrison Street

DGAP-News: MPC Münchmeyer Petersen Capital AG / Key word(s): Real Estate
MPC Capital sells Micro Living portfolio and forms Joint Venture with Harrison Street

05.01.2018 / 08:30
The issuer is solely responsible for the content of this announcement.


MPC Capital sells Micro Living portfolio and forms Joint Venture with Harrison Street

- 1,000 STAYTOO apartments sold to Harrison Street Real Estate Capital
- MPC Capital remains active as asset and facility manager of student apartments
- Strategic joint venture with Harrison Street to acquire student housing properties across Europe

Hamburg, January 5, 2018 - MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4) has sold a portfolio of more than 1,000 student apartments in German university cities to Chicago-based investment firm Harrison Street Real Estate Capital, one of the largest private investors in the student housing market with over 73,000 beds throughout the U.S. and Europe.

The properties are located in Berlin (2x), Bonn, Kaiserslautern, Leipzig und Nuremberg. The houses in Nuremberg and Bonn have already opened their doors for the 2016/2017 academic year. STAYTOO Leipzig and STAYTOO Kaiserslautern have been ready for occupation since autumn 2017. The opening of the two locations in Berlin is planned for 2018.

Under the terms of the Joint Venture between MPC Capital and Harrison Street, the apartments marketed under the STAYTOO brand will continue to be managed by MPC Capital's Micro-Living team following the sale. Accordingly, MPC Capital is actively seeking to expand the portfolio under management. The free cash proceeds from the sale are to be reinvested in project developments in Germany and a stable pipeline has been already identified. Existing properties are to be acquired for the new investor and managed under the STAYTOO brand.

Dr. Roman Rocke, Board Member of MPC Capital AG, comments: "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." To this end, MPC Capital has already established representative offices in Barcelona and Lisbon. Spain and Portugal are regarded as attractive markets for student housing, in particular for foreign students. The markets still offer potential with regard to their current position in the real estate cycle.

Since 2013, MPC Capital has built up development and management capacities in the Micro Living area and has been managing a development fund for student housing since 2014, for which Scandinavian institutional investors have been attracted. MPC Capital is a co-investor.

About MPC Capital AG (www.mpc-capital.com)
MPC Capital AG is an internationally active asset and investment manager specialising in real asset investments. Together with its subsidiaries, the company develops and manages investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 250 employees group-wide.

About Harrison Street Real Estate (www.harrisonst.com)
Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment products across multiple risk/return strategies. Headquartered in Chicago with an office in London, the firm has 115 employees and has approximately $12.8 billion in assets under management.

Contacts
MPC Capital AG
Stefan Zenker
Head of Investor Relations & Public Relations
Tel. +49 (40) 38022-4347img
e-mail: s.zenker@mpc-capital.com

For Harrison Street:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170img



05.01.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: MPC Münchmeyer Petersen Capital AG
Palmaille 75
22767 Hamburg
Germany
Phone: +49 (0)40 380 22-0
Fax: +49 (0)40 380 22-4878
E-mail: kontakt@mpc-capital.com
Internet: www.mpc-capital.de
ISIN: DE000A1TNWJ4
WKN: A1TNWJ
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

643157  05.01.2018 

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