Press release

Instone project "Marie" in Frankfurt launched for sale

Instone to develop a total of 236 apartments in the popular Nordend district /// Sales volume expected to exceed EUR 200 million /// "Marie" to offer attractive condominiums in a new-build development /// In addition, rental apartments to be created in the refurbished former nurses’ residence /// Construction on track – project expected to be completed by late 2021

Essen/Frankfurt, 10 July 2018: Instone Real Estate has commenced, as planned, the sale of apartments for the "Marie" project. A total of 236 residential units are to be created on the site of the former St. Marienkrankenhaus hospital in Frankfurt’s Nordend. The listed residential development company expects the sales volume to top EUR 200 million.

Andreas Gräf, CDO of Instone Real Estate Group: "Given the exciting combination of old and new, we are able to use our many years of experience developing modern residential properties and our refurbishment expertise in realising this unique project. We are looking to create an attractive, contemporary living space in the popular Nordend district with our project."

A car-free development with a protected inner courtyard is planned, consisting of 236 housing units, two day-care centres and an underground car park with 235 spaces. A total of 181 condominiums, project“Marie”, will be created in the new-build development. The building exterior will be modelled on the original architecture. Sales have been launched for the entire condominiums’ development, including one day-care centre. Moreover, in the former nurses’ residence Instone will develop 55 subsidised rental apartments as part of a refurbishment project and a second day-care centre. Following completion, these will be handed over to the municipal housing association ABG Frankfurt. Some of the condominiums in the "Marie" project will also be subsidised housing units.

Ralf Werner, Instone branch manager in the Rhine-Main region: "Construction is right on track. We are currently taking the initial measures needed to prepare for the structural work. We expect the project to be completed by late 2021."

Interested parties can already get a first impression by checking out www.marie‑