Germany 
ALBSTADT-EBINGEN

Architecture and image rights: Clea Gross Architekten GmbH, www.cleagross.ch

CapRate has acquired a 4,734 m² property in the core area of Albstadt-Ebingen with 4,534 m² gross floor area of a listed existing building and further development area for approximately 3,500 m² gross floor area. The property is divided into two parcels: the existing building will be converted into approximately 4,500 m² gross floor area of student apartments. Approximately 3,500 m² gross floor area for hotel/serviced apartments are planned on the open area.

The location offers various USPs in order to operate both usage concepts successfully in the long term, including proximity to the university, several companies in the vicinity that operate worldwide, the station nearby, the city centre location and extensive tourism of the Swabian Alps.

Both city planning management and the local banks have reacted very favourably to the potential construction of a professionally managed hotel, as the region has family-run businesses and historic boarding houses, and there are not enough leisure/business hotels.