Real estate developer GBI launches SMARTments connect as a new apartment product for young professionals in Germany and Austria

Berlin/Frankfurt, July 11, 2023. The German project developer GBI Group is expanding its SMARTments brand family. Under the name SMARTments connect, apartmentbuildings are being built that offer new opportunities for co-working and co-living - a trend that is particularly popular among young professionals. The real estate concept has already been defined in detail and the company is building the first project of the new product line in the east of Frankfurt am Main. Several other locations in Germany and also Austria are currently under consideration. "Our market analyses have shown that precisely this kind of accommodation offer is lacking in numerous cities," says Burak Ünver, Managing Director of SMARTments: "Young professionals have a particular need to get to know people in an uncomplicated way without having to forego having a private safe haven To also get this combination at a reasonable price is especially important for this type of guests."

The SMARTments connect concept offers options for different needs. In addition to the classic apartments, which have their own kitchens, units without kitchens are also offered: Their residents use one of the community kitchens instead. This can create a community that makes it easier to stay and settle in a new city. "Especially after exciting adventure trips or exhausting days at work, guests can meet new, inspiring people while cooking and eating together. SMARTments connect enables casual communication and interaction," explains Burak Ünver, Managing Director SMARTments. The enlarged co-working areas are also part of the special community concept.

At the first SMARTments connect, in Frankfurt's Borsigallee 9, a total of 128 Serviced Apartments will be built in the Seckbach district by the end of 2023, including six shared kitchens, i.e. one on each floor. "Residents of the apartments with their own kitchens can also enjoy the experience of community cooking on the floor at any time," says Burak Ünver. "This alternative offer is ideal for locations where start-ups flourish or many young professionals are pushing into metropolitan areas, but hardly any classic apartments are offered," says Ünver: "SMARTments connect ideally fills such gaps in the real estate structure of many cities."

In terms of length of stay, there will be differences from GBI's established SMARTments business brand, suspects Burak Ünver: "While SMARTments business registers an average length of stay of more than one month, SMARTments connect is expected to have a significantly higher proportion of short- or medium-stay travelers."

And the demand for such overnight accommodations continues to grow. "The flexibilization of the labor market will continue to accelerate," expects Simon Behr, Managing Director of GBI Group. "This offers opportunities for young concepts such as SMARTments connect, which take up current trends. For investors, these products with their broad application possibilities are very interesting."

Indeed, the new real estate form is finding great favor with investors. The abrdn Investments Deutschland AG (abrdn) acquired SMARTments connect in Frankfurt, which is currently under construction, for a special real estate fund. "Our investment offers include a mix of promising properties in Germany. SMARTments connect is clearly one of them," says Fabian Klingler, CEO of abrdn Investments Deutschland AG. "Such properties are actually becoming more and more in demand in major cities."

About SMARTments:
"SMARTments business" and "SMARTments connect" are brands of the GBI Group and offer fully furnished and fully equipped apartments to travelers. In "SMARTments business," the apartments include a private kitchenette, while in "SMARTments connect," community kitchens are also available. Mostly, it is business travelers or young professionals who use serviced apartments for longer stays in a city, for example for project work or consulting mandates. But private travelers also use serviced apartments of the GBI brands - for example for city trips or to arrive in a foreign city and look for a new apartment from there at their leisure. Eight houses of the "SMARTments business" brand with a total of 1043 apartments in Munich, Hamburg, Berlin, Mannheim and Vienna are currently in operation. In addition, there are around 300 apartments under construction in Frankfurt am Main and Hamburg. The first building for the "SMARTments connect" brand is currently under construction in Frankfurt. The operation of the two serviced apartment brands also takes place independently of GBI Group real estate developments. http://www.smartments-business.de

About GBI Group:
GBI is a real estate developer focused on subsidized and privately financed apartments, hotels, serviced apartments, student housing and assisted living concepts under the SMARTments brand. Since its foundation in 2001, GBI has sold real estate projects in Germany and Austria with a volume of over 2.5 billion euros. GBI also operates serviced and student apartments itself under the SMARTments brand. GBI Capital, which is part of the GBI Group, bundles the areas of investment management, fund and asset management and subsidy consulting. GBI's shareholder is the private real estate fund manager Henderson Park from Great Britain. http://www.gbi.ag

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