Berlin—Global law firm Dentons advised CR Investment Management on the establishment of a joint venture with CBRE Global Investors to offer boutique apartments to business travellers. The joint venture will draw on equity from CBRE’s European fund EVP2 to invest in suitable properties, which will be operated as a tenant by STAYERY, a German-based operator of serviced apartments. The first acquisitions of properties for the project are in the planning stage.

STAYERY operates and develops boutique apartments, which primarily offer accommodation to business travelers for several weeks or months, combining the comfort of an apartment with the service of a hotel. The first STAYERY building opened in Berlin in January 2019. Further apartment buildings in Frankfurt, Cologne and Bielefeld are currently being built. 

CR Investment Management is a pan-European asset and investment manager focusing primarily on Germany, Luxembourg, the Netherlands and Ireland. Over the past 10 years, CR has structurally optimized been involved in real estate transactions worth €30 billion, including €7 billion in Germany alone.

A cross-border Dentons team fully advised CR on the establishment of the joint venture under German and Luxembourg law. In addition, it helped negotiate a model lease agreement for the joint venture and an asset management agreement for CR. 

Advisors to CR Investment Management:

Dentons (Berlin): Volker Mergener (Partner), Dr. Jonas Ulmrich (Senior Associate), both Real Estate

Dentons (Luxembourg): Gérard Maitrejean (Partner), Andrea Antonescu (Counsel), both Corporate

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