Oct 8, 2018 – Ralph Winter is purchasing a significant minority stake in the Berlin based co-living company QUARTERS (owned by Medici Living). Founded in 2012, PropTech company QUARTERS operates approximately 2,000 bedrooms in Germany, the US and the Netherlands.
Inspired by the global success of the co-working model where people share workplaces, co-living QUARTERS is the upscale, modern and fully-connected apartment share for the digital age. Residents are members of the QUARTERS community and rent a private, furnished bedroom (some with en-suite bathrooms), and they share attractive common areas – kitchens, lounges, and other facilities, potentially including gyms, spas, gardens and/or cinemas. Residents enjoy flexible lease agreements, and the QUARTERS app allows residents to conveniently interact with QUARTERS from the booking process onwards
QUARTERS not only simplifies urban living, it makes it more affordable with all-inclusive bill that covers the rent, utilities, furnishings, smart-home technology, community spaces, weekly events, and streaming services. Members of this community are part of a global network with in New York City, Chicago and Berlin. QUARTERS will use the investment from W5 Group to expedite its international expansion.
Headquartered in Berlin/ Germany and New York City/ US, QUARTERS employs around 85 people at various locations in Germany, the US and the Netherlands.
Ralph Winter: “Co-living is a new segment of the real estate market that offers higher-density living configurations with great common spaces that create a comfortable, community-based lifestyle that’s not only affordable, but highly desirable for tenants. I am a big proponent of the co-living movement and believe it is at an inflection point for rapid, sustained growth for years ahead. The market is untapped, so I believe there is room for many different competitors to thrive. I am encouraged by QUARTERS’ track record and performance to date, and I expect a continued rapid growth trajectory.”
Ralph Winter is the principal of W5 Group and the founder of CORESTATE Capital Group, one of the leading listed European real estate investment managers with AUM of more than €25 billion. Established in 2009, W5 Group is a single family office with investment teams in both Europe and the United States and is focused on real estate and private equity transactions via equity and debt instruments.
Gunther Schmidt, CEO of QUARTERS: “We were looking for a best in class real estate partner in order to build the biggest co-living player in the market. Combining our community & technology based housing for millennials with the right real estate product is key for our business model to produce long term, stable income streams. Ralph’s experience in all the various types of micro- and residential products is a perfect fit.”
The size of the investment was not disclosed.