The Munich-based start-up's hospitality, limehome, continues to gain presence in all German A-cities and deepens cooperation with IMAXXAM, an asset and portfolio management company.
limehome is expected to open 70 units in Düsseldorf's Stresemannstraße in the fourth quarter of 2022. The property is a serviced apartment complex opening in 2021. IMAXXAM acquired the property so that limehome can manage all five floors of the building in the future. The partnership is based on an existing, successful collaboration on a project in Munich.
Soon, guests will be able to book flats for short or long-term stays in the planned location. The size ranges from 20 to 40 m², and most of the flats are equipped with a kitchen. The location also has a spacious community area, a terrace, an underground car park, an inner courtyard with seating and a fitness studio.
With the signing in the Rhine metropolis, the fast-growing company completes its portfolio of A-cities in Germany, in addition to its strong presence in B- to D-cities. limehome thus has properties under contract in all cities that are particularly characterised by strong competition.
This opening is a milestone for limehome. It not only shows that many owners and managers of high-end properties are convinced by our business model, but also that we are striking a chord across the board. A fully digital customer journey and home feel in the best locations is now bookable in all A-cities in Germany.
Ricky Bichel, Head of International Expansion at limehome
We are acquiring the property for Union Investment's AIF real estate special fund 'GENO Rheinland Real Estate'. With this acquisition, we are continuing our successful partnership with limehome in a very attractive environment. At the same time, we see that the hospitality market needs completely new strategies and approaches in view of the many challenges. Consistently focusing on digitalisation is the right path, which we will continue to follow together with limehome.
Holger Kohl and Christoph Geißler, managing directors of IMAXXAM
