777 Capital Partners becomes asset manager in Frankfurt

The new serviced apartment building is a property on Eschersheimer Landstrasse, not far from Eschenheimer Tor and just a few steps from the city center and the banking district. It has 100 rooms and a gross leasable area of almost 6,000 sqm. The apartments average 30 square meters; the building also houses a café and a Pilates studio.

The operator of the property, which will be completed in late 2021, is Numa Group, which has signed a long-term lease. Operations at the serviced apartments are expected to begin in the first quarter of 2022, according to 777 Capital Partners. The W5 Group family office of Ralph Winter, co-founder of 777 Capital Partners, is acquiring the property from a consortium of sellers. (ah)