Essen / Leipzig, April 24, 2017: 26 years of experience, current project volume of EUR 2.6 billion, more than 16,000 clients, almost 1 billion square meters of living space built to date, around 1,000 residential units sold per year—the combined successful balance sheet of formart GmbH & Co. KG (formart) and GRK-Holding GmbH (GRK).
From mid-June 2017 the two companies will start writing a new chapter: the residential developers who have previously operated separately will in future be joining forces under the new umbrella brand of Instone Real Estate. The brand launch will see the creation of the Instone Real Estate Group B.V. The company will be responsible for the strategic and operational management of the Instone Real Estate Group and will establish the new brand. The holding company is being run by experienced managers from formart and GRK. Kruno Crepulja (CEO), Andreas Gräf, Torsten Kracht and Oliver Schmitt have been appointed to the Executive Board. Harald Meerße, Andreas Rühle and Carsten Sellschopf will continue in their roles of managing the operational subsidiaries, working hand-in-hand with the holding company’s Executive Board.
“Both companies have been extremely successful in recent years. We now want to continue this success story with a single brand which we are confident will give us even more clout for the future,” says Kruno Crepulja, CEO of the Instone Real Estate Group B.V. “The Instone Real Estate umbrella brand is a key element of our strategy for continued sustainable growth.”By concentrating operations in the Instone Real Estate brand, the competences of the two experienced real estate companies will be bundled in a thriving market. formart is already one of Germany’s leading residential developers in the new-build segment, while GRK is a specialist for the development and refurbishment of listed buildings. Taken together, the two companies operate in nine locations in Baden-Württemberg, Bavaria, Berlin, Hamburg, NRW, in the Rhine-Main region, and Saxony, with some 270 employees. “Instone Real Estate is a growth story,” Kruno Crepulja says.
As a residential developer, Instone Real Estate will continue to concentrate on the development, realization and marketing of mid-sized to large-scale existing and new-build residential quarters. “We are creating new homes for many people. This is what drives us,” says Kruno Crepulja. The projects include the refurbishment and revitalization of existing buildings and monuments, as well as downtown residential complexes and apartment buildings. In addition, Instone Real Estate drafts construction legislation for complex lots as a public-sector partner. “We will maintain our strategic alignment but will benefit from the shared Instone Real Estate brand in the area of project acquisition and financing and, most notably, in the area of marketing,” says CEO Kruno Crepulja. “We have a clear objective: Together with our clients, partners and employees we want to become Germany’s most successful residential developer.”