Exxe Group Announces Three Real Estate Investments
Exxe Group, a diversified company focused on acquisitions in the real estate, fintech and financial services sectors, announced that it has signed binding agreements for three real estate development projects in Central Europe. These are the first investments to be made under Exxe’s new strategic plan and all will be completed through a combination of cash and notes. The combined total value of the three projects will be over $50 million when completed, which is projected in 2021. Construction is scheduled to begin late in 2018 with sales projected to begin in 2019.
The first transaction has closed and is for the development of a residential housing complex in the Frankfurt metropolitan area. The sustainable and cost efficient construction of 42 units at the back of an historic street line will maintain the historical character of the surrounding buildings and offer many amenities, including a parking facility with 42 spaces. The Frankfurt metropolitan area has been growing rapidly, offers excellent transportation and is home to many well-known companies offering employment opportunities.
The second project is under a binding letter of intent and is in Switzerland, close to the northern border and main roads. This mixed use project totals over 43,000 square feet and will include a large number of self-storage units as well as several apartments, stores and single office rentals with access to a meeting room. Renovations have already begun.
The third project is also under of binding letter of intent and will launch the concept of senior living in Central Europe. This new concept will first be built in Bavaria and is a good fit for the area, which has high purchasing power and changing demographics that are creating demand for this type of development. The 5 Star residential resort will include 100 detached houses for people over the age of 50 as well as high-end amenities such as a restaurant, event hall, full time nursing service, medical care and a guest house for visitors.