Luxembourg-based investment manager and co-investor CORESTATE is to manage the development of a micro-apartment project in Munich, Germany.

Upon completion the asset will comprise 55 fully furnished and self-contained serviced apartments, responding to an increase in demand among business travelers and young professionals seeking micro-apartments offering a certain service level.

The development will be operated by MicroLiving, CORESTATE’s property management company currently managing 4,200 units in Austria, Germany and Spain.

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