UK-based co-living firm The Collective has announced plans to enter the German market, with its initial focus on establishing a presence in the country’s Big 7 cities. The company already has operational sites in London and New York.
The firm said it has appointed directors Björn Munte and Niels Berl to oversee the company’s new Berlin offices, which will be responsible for realising The Collective’s co-living projects in Germany, comprising the revitalisation of characterful existing properties as well as newly developed concepts.
Berl, who previously served as an associate director for the German market at Terra Firma Capital Partners, will be responsible for investment, while Munte’s experience in developing major projects at Cresco Capital Group and the Acrest Property Group, will take the lead on development.
According to Munte, 'We plan to develop and manage several thousand co-living units in major German cities in the coming years, which we hope will achieve the same popularity among members as the sites already flourishing in London. The demand for co-living – a flexible, community-oriented approach to housing – is exponentially increasing worldwide, in particular among urban-based individuals in a transformational stage of life… The Collective responds to this with an offer that comprises bespoke rooms on flexible leases, design-led shared spaces, one-of-a-kind amenities and thoughtfully-programmed events intended to bring our members together.”
The group is looking for sites in the largest German cities and is open for cooperation with development partners, said Berl. 'For each development in Germany we will take a site-specific approach that prioritises a strong local focus. Our ambition is to create spaces that are an active part of the community and neighbourhoods.'
The Collective, which was founded in London in 2010 by Reza Merchant, is currently operating or developing some 8,500 co-living units globally, making it the world’s largest co-living community. This autumn The Collective opens its first location in New York City, The Paper Factory, and the world’s largest co-living building – The Collective Canary Wharf – in London.
