Tengelmann subsidiary, Trei Real Estate, opens first student residential complex in Köln-Ehrenfeld
Opening of the first Quartillion in Cologne-Ehrenfeld
At a festive inauguration ceremony, Trei Real Estate GmbH, the property subsidiary of the Tengelmann Group, opened its first student apartment complex, the "Quartillion", in Melatengürtel 113-115 in Köln-Ehrenfeld. "Trei is moving from an exclusive focus on property management to a value-creating real estate company. The implementation of our first student residential complex under the Quartillion brand now also makes this re-alignment of Trei visible to the outside," says Pepijn Morshuis, CEO Trei Real Estate GmbH. "Köln-Ehrenfeld - a residential location popular amongst students - is an excellent place to start our recently developed residential concept. We expect to see a great response and thus confirmation of our plans for the future. We are therefore delighted that Quartillion is now ready to receive students after only 15 months of construction," says Karl-Erivan W. Haub, Managing Director and personally liable partner of the Tengelmann Group. The first apartments have already been let and will receive their first occupants in April.
Demographic developments and the accompanying trend towards one and two-person households are the reason for the increased focus of Trei's strategy on the residential sector. The demand for affordable one and two-bedroom flats in big cities is increasing considerably. "We see this as a trend-setting future market, and Quartillion is an initial step to establish ourselves in it," says Morshuis, explaining the plans for the future. "We expect that by 2020 residential property will make up 40 per cent of our entire portfolio. This restructuring is contributing to a long-term stable portfolio which we can continually expand," he adds.
Quartillion consists of two modern buildings with an attractive green courtyard and 153 apartments of between 18 and 32 square metres. The design-oriented apartments will be fully furnished, have a high-speed Internet connection as well as common areas, such as study rooms, a lobby, a lounge and a grill area, and will add to the modern flair of the apartment complex. "With many additional services, Quartillion offers students comfortable living with their own four walls, though in the midst of a student residential community. There is no commission and the rent is all-inclusive," says Morshuis regarding the comfortable home-learn-life concept in Quartillion. There will also be 54 underground parking spaces, covered bicycle parking, and lockable storage areas on the basement level.
As well as the "Student and Business Living" project, Trei is working on two additional construction projects in Berlin, where work will get underway this year. In contrast to Quartillion, the residential complex in Berlin will meet the requirements of single inhabitants as well as families. However, the goal is the same here as well: to offer modern, affordable housing in the city.