Corestate Launches its Business Apartment Venture in Spain

28 March 2019 – Eje Prime

The Luxembourg-based fund manager Corestate has launched a business apartment venture, Joyn, aimed exclusively at executives travelling to other cities for a relatively long period of time.

The company plans to open three business apartment blocks in 2019, two in Madrid and one in Barcelona, with approximately 200 beds each. It is already searching for assets in key locations of each city, such as La Diagonal and 22@ in Barcelona and Las Tablas in Madrid.

The apartments will each have a small kitchen, study and living room. There will also be common areas in each building to encourage networking. The model has already proved successful in Munich, where Corestate has been operating two such properties since 2018.

In addition, the company’s agreement with Medici Living is starting to take shape – the intention is to close this year with 450 co-living beds in Spain.

Original story: Eje Prime (by Marta Casado Pla)

Translation/Summary: Carmel Drake

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