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DGAP-Media / 2018-07-10 / 07:45
*Instone project "Marie" in Frankfurt launched for sale*
*- *_Instone to develop a total of 236 apartments in the popular Nordend
district_
_- Sales volume expected to exceed EUR 200 million_
_- "Marie" to offer attractive condominiums in a new-build development_
_- In addition, rental apartments to be created in the refurbished former
nurses' residence_
_- Construction on track - project expected to be completed by late 2021_
*Essen/Frankfurt, 10 July 2018: *Instone Real Estate has commenced, as
planned, the sale of apartments for the "Marie" project. A total of 236
residential units are to be created on the site of the former St.
Marienkrankenhaus hospital in Frankfurt's Nordend. The listed residential
development company expects the sales volume to top EUR 200 million.
Andreas Gräf, CDO of Instone Real Estate Group: "Given the exciting
combination of old and new, we are able to use our many years of experience
developing modern residential properties and our refurbishment expertise in
realising this unique project. We are looking to create an attractive,
contemporary living space in the popular Nordend district with our project."
A car-free development with a protected inner courtyard is planned,
consisting of 236 housing units, two day-care centres and an underground car
park with 235 spaces. A total of 181 condominiums_, _project"Marie", will be
created in the new-build development. The building exterior will be modelled
on the original architecture. Sales have been launched for the entire
condominiums' development, including one day-care centre. Moreover, in the
former nurses' residence Instone will develop 55 subsidised rental
apartments as part of a refurbishment project and a second day-care centre.
Following completion, these will be handed over to the municipal housing
association ABG Frankfurt. Some of the condominiums in the "Marie" project
will also be subsidised housing units.
Ralf Werner, Instone branch manager in the Rhine-Main region: "Construction
is right on track. We are currently taking the initial measures needed to
prepare for the structural work. We expect the project to be completed by
late 2021."
Interested parties can already get a first impression by checking out
www.marie-frankfurt.de [1].
*About Instone Real Estate (IRE)*
Instone Real Estate is one of Germany's leading residential developers.
Instone develops modern urban multi-family and residential buildings and
refurbishes listed buildings for residential use. Instone develops and
markets flats for owner-occupiers, private investors and institutional
investors. In 27 years, we have successfully developed more than one million
square metres. Around 300 employees work at eight locations nationwide. As
of 31 March 2018, Instone's project portfolio consisted of 45 development
projects with an expected total sales volume of around EUR 3.4 billion and
more than 8,000 units. Since February 2018 Instone has been listed in the
Prime Standard at the Frankfurt Stock Exchange.
*Press contact
Instone Real Estate*
c/o RUECKERCONSULT GmbH
Franziska Jenkel
Wallstraße 16
10179 Berlin
Tel.: 030 2844987-61
Fax: 030 2844987-99
Email: instone@rueckerconsult.de
End of Media Release
Issuer: Instone Real Estate Group N.V.
Key word(s): Real estate
2018-07-10 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Archive at www.dgap.de
Language: English
Company: Instone Real Estate Group N.V.
Baumstraße 25
45128 Essen
Germany
Phone: +49 201 453 550
E-mail: ir@instone.de
Internet: www.instone.de
ISIN: NL0012757355
WKN: A2JCTW
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP Media
702967 2018-07-10
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(END) Dow Jones Newswires
July 10, 2018 01:45 ET (05:45 GMT)
