Munich / London, 30 July 2026. Deutsche Pfandbriefbank AG (pbb) has provided EUR 48.83 million in financing to funds managed by ESR Europe for the conversion of an office building into a serviced apartment asset in south-east Munich.

ESR Europe has successfully completed the basic fit-out of the c. 11,000 square metre property, which is located at the Weisses Quartier in Munich. 

Ireland-headquartered aparthotel leader Staycity Group has signed a long-term lease on the property and will open its first Munich location under the Staycity Aparthotel brand. The property will comprise 255 fully equipped rooms.

“We are delighted to be facilitating this exceptional project for the ESR Europe. For pbb, it represents another milestone in our commitment to the serviced living asset class,” says Gerhard Meitinger, Head of Real Estate Finance Germany, expressing his enthusiasm for the project.

ESR Europe

ESR Europe is a specialised pan-European real estate investment manager with over 30 years of experience across key sectors, including logistics, offices and living.

Headquartered in London, ESR Europe’s team of 130 professionals brings deep, on-the-ground expertise across key Western European markets. We offer a range of flexible investment solutions, including public market vehicles, discretionary equity funds, joint ventures, and SMAs. 

Our track record includes a total investment value of over £8.5 billion, with £5.0 billion realised transactions, positioning us as an active investor in the European real estate market.

About Staycity

Staycity Group is an Irish aparthotel operator with over 20 years’ market experience. The company operates 39 aparthotels in 20 cities across Europe, currently comprising just under 6,500 apartments. In addition, 17 projects totalling 3,600 units are in the pipeline. In the DACH region, Staycity operates properties under the Staycity Aparthotels and Wilde Aparthotels brands in Berlin, Frankfurt, Heidelberg, Dresden, Leipzig and Vienna, including the recently opened Wilde Vienna Fleischmarkt.