Capital Bay and Projekte Partner form joint venture for real estate sales
Berlin/Hanover, 06. June 2023
Berlin/Hanover, 5 June 2023 – Capital Bay Group (Capital Bay), an internationally active
investment, asset, property and facility manager integrated at all stages of the value chain
with €7.5 billion in assets under management, has formed a joint venture for property sales
together with property marketing specialist PP Projekte Partner. With the founding of Capital
Bay Sales GmbH, the shareholders and previous founders of DI Deutschland.Immobilien AG,
who sold 75.1% to the MLP Group in 2019, have now created a platform for the single sales
of sustainable micro-living products, which Capital Bay realises in cooperation with its
strategic partner Daiwa House Modular Europe, a Fortune 500 company and market leader
in modular construction. The target groups are private and semi-professional investors.
"Together with Daiwa House Modular Europe, we are building sustainable, circular housing
concepts in modular construction, thus creating much-needed living space more quickly than
with conventional construction methods. With PP Projekte Partner, we have a strong partner
with years of sales experience, a large distribution network and effective sales strategies at
our side, with whom we can now also offer our residential products and commercial housing
products to private investors," says George Salden, CEO of Capital Bay. "The sale of
properties in partial ownership and digital tokenisation will address a broader investor base
and create additional financing options for projects."
"We are very pleased to be working with Capital Bay and also with Daiwa House Modular
Europe, two major players in the real estate market. Together we will develop innovative and
sustainable solutions. The joint venture with George Salden and the Capital Bay Group thus
represents a perfect symbiosis for us," says Patrick Holze, Managing Director PP Projekte
Partner.
An initial sales portfolio consists of around 200 serviced apartments of the operator brand
Stayurban, which are part of a new development quarter in an inner-city core location in
Magdeburg in order to meet the strongly growing demand due to the settlement of the
American computer chip manufacturer Intel. In several construction phases, Capital Bay and
Daiwa House Modular Europe are realising a total of 36,000 sqm of rental space with various
types of housing for young and old as well as diverse commercial uses. Most of the new
buildings will be constructed in modular design and equipped with an innovative heating,
cooling and ventilation system in order to be KfW 40NH compliant and to achieve the DGNB
Platinum standard.