Capital Bay wants to multiply its operator property business in Europe
Berlin, 25. October 2021
Capital Bay wants to multiply its operator property business in Europe.
"Our goal is to get up to 15 brands and over 100,000 units in the next ten years," announces company CEO George Salden in an interview with TD. He envisages around 60% for Germany - but with the proviso that furnished living continues to be exempt from rent regulations. At the moment, the Berlin-based company has nine operator brands with 10,000 units in student, micro-apartment and senior housing complexes, as well as boarding houses and nursing homes. A large proportion of the planned residential complexes are to be newly built. Capital Bay has high hopes for its recently announced partnership with modular building manufacturer Daiwa House. The planned joint "Gigafactory" is expected to produce 50,000 residential units per year. Capital Bay had received a €1 billion mandate from the Swiss Prime Investment Foundation for its expansion plans. "Capital from a large private equity fund will be added shortly," Salden announces.