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*Instone Real Estate: Construction on "living rooms Jefferson St" project in
Mannheim begins as scheduled *
*- *_Over 50% of condominiums sold before construction starts_
_- A total of 96 condominiums and 105 rental apartments being realised on
the FRANKLIN Quarter site_
_- Condominiums scheduled for completion in summer 2020_
*Essen/Mannheim, 12 July 2018: *Construction has begun as planned on Instone
Real Estate's "living rooms Jefferson St" project in Mannheim's FRANKLIN
Quarter. The project, with a total of 96 condominiums, is scheduled to be
completed in summer 2020.
Andreas Gräf, CDO of Instone Real Estate, says: "As we expected, there was a
great response, which meant that contracts had been concluded for more than
half of the condominiums before construction even began. As a result, EUR
17.5 million of the EUR 32.9 million in planned sales proceeds from the
'living rooms' have already been secured. This strengthens the confidence
that we have in our strategy of developing attractive apartments for capital
investors and owner-occupiers through our platform, which has been
established throughout Germany."
Bianca Reinhardt Weith, head of Instone's Baden-Württemberg branch, adds:
"As a university city and one of the region's traffic hubs, Mannheim has
been experiencing growth for years and requires new residential units. Our
vision is to create a lively, modern neighbourhood that provides a generous
amount of different types of residential housing, helping to relieve
pressure on the local housing market."
The "living rooms Jefferson St" project comprises two- to four-room
apartments with floor space of between 62 and 124 square metres. Instone is
also realising 105 rental apartments and a kindergarten for Industria Wohnen
Deutschland on the neighbouring site. Shell construction for these six
rental apartment buildings is already in full swing.
*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
2018-07-12 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
703765 2018-07-12
(END) Dow Jones Newswires
July 12, 2018 01:45 ET (05:45 GMT)
