Berlin, 17 November 2010 – ESTAVIS AG is striking out in a new direction in the optimisation of residential real estate. A new utilisation concept has been developed and implemented for an apartment building in central Berlin with 80 residential units.
In future the building will be used by non-profit organisations to offer young people and adults in difficult life situations their own homes. The residents will be supported by employees of the social organisations. With its special central location in the Charlottenburg district and its apartment structure, the building offers optimal conditions for the future users.
Estavis has already concluded long-term rental agreements with a term of 10 years with several Berlin social organisations for a total of 50 apartments.
The property was acquired by Estavis in August 2010 for the implementation of the new utilisation concept and is currently being modernised. The acquisition and conversion of the apartment building are being financed by the Bank für Sozialwirtschaft.
“After the loss of follow-up funding for social housing, fewer and fewer suitable apartments are available to non-profit organisations in Berlin”, explains Florian Lanz, CEO of Estavis AG. “At the same time, the need for housing with support from such organisations is increasing. We therefore intend to strengthen our involvement in this area in future.”
ESTAVIS offers institutional and private investors bespoke solutions in the context of residential real estate in Germany. Options extend from the conceptualisation of new commitments all the way to the liquidation of existing direct or indirect single or portfolio investments. To this end, ESTAVIS will orient the entire supply chain to a successful exit, including acquisition, optimisation, and eventual sale. An essential success factor and competitive advantage of ESTAVIS is the company’s clout in property retailing. ESTAVIS AG is seated in Berlin, and is listed in the Prime Standard of the Frankfurt stock exchange (ISIN: DE000A0KFKB3).
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