The new building, the W - Double U project, will be located on Solmstrasse 58 and is being developed by City 1 Group GmbH. It will also include 120 private sale apartments. The 150 serviced apartments will range between 20 and 42 square metres, and will include communal areas. Autumn 2020 is the expected opening date.

Vassilios Farmakis, managing director of City 1 Group, Benjamin Djebali, head of acquisitions at Brera, and Brera CEO Matteo Ghedini signed the contract this week.

"Our new location in the west Frankfurt not only supports my positive view towards the serviced apartment industry but also my belief in Frankfurt as a developing and constantly growing destination," said Ghedini.

Brera Serviced Apartments was founded in 2013 and has three properties in operation with a total of 140 apartments in Frankfurt, Munich and Nuremberg. It will open further properties in Leipzig, Ulm and Frankfurt in 2020.

For all the latest news and views on the serviced apartment sector in Germany and beyond, don't miss Serviced Apartment Sumit RECHARGE, which takes place in Berlin on January 22 and 23.