When STAYERY announced its acquisition of a 1968 office building at Adenauerallee 90 in Bonn, it wasn’t just another real estate deal. It was a quiet revolution in how Germany’s urban spaces are being reimagined — one empty office floor at a time. Partnering with Borchard Group and Bautra GmbH, STAYERY plans to transform the 3,000-square-meter building into 79 fully furnished serviced apartments, set to open in mid-2027. The move signals a broader pivot: from renting spaces to reshaping them, from passive tenants to active developers.
The Bonn Shift: From Corporate Cubicles to Home-Style Living
The building at Adenauerallee 90, once part of a special real estate fund managed by Ampega Asset Management GmbH under the Talanx Group, sat mostly vacant after years of declining corporate demand. Now, it’s getting a second life — not as a corporate HQ, but as a hub for remote workers, digital nomads, and professionals relocating for short-term assignments. Each apartment will feature smart technology, designer furniture, kitchenettes, and access to shared lounges and laundry facilities. The conversion isn’t just cosmetic; it’s structural. Load-bearing walls are being reconfigured, elevators upgraded, and HVAC systems overhauled to meet residential standards. "As a project developer, we rely on partners who operate sustainably and economically and at the same time impress with a clear concept," said Christoph Buse, CEO of Bautra GmbH. "With STAYERY, we have found exactly that. The project in Bonn lays the foundation for further joint developments."Berlin: The Engine of Growth
While Bonn grabs headlines, STAYERY’s real momentum is in Berlin — where three major projects are now in motion. The first, at Ostkreuz, involves a 20-year lease of 255 units from re:o-Berlin, a redevelopment of the former Deutsche Rentenversicherung headquarters. Construction begins this spring, with completion expected in the first half of 2027. The site will include a new atrium, co-working zones, and — for the first time in a STAYERY property — an in-house gastronomic concept. Then there’s the Gesundbrunnen Center in Berlin-Mitte, where a two-story modular timber structure atop a shopping mall will house 162 units. Scheduled to open in 2027, it’ll feature a Späti shop, fitness room, and rooftop terrace — a nod to Berlin’s street-level culture. "The location could hardly be better for us," said Dr. Robert Grüschow, Managing Director of STAYERY, referencing the area’s proximity to public transit and existing demand near the Friedrichshain location.A Business Model Built for the Long Haul
STAYERY doesn’t chase quick flips. Its model hinges on 15- to 20-year leases, often with management contracts and rent guarantees. This isn’t Airbnb-style short-term renting — it’s institutional-grade housing designed for professionals who need stability, not spontaneity. The company’s portfolio includes conversions in Wolfsburg, rebranding projects like Cologne Sülz, and new builds in Frankfurt and Bielefeld. Each project follows the same playbook: repurpose underutilized commercial space, add smart tech, and deliver a turnkey experience. "At our Bonn location, we are demonstrating how we can actively shape a project from the outset and not just act as a tenant," said Hannibal DuMont-Schütte, CEO and Co-Founder of STAYERY. "This is a crucial step in our expansion."What This Means for German Cities
Germany’s urban centers are facing a paradox: office vacancy rates hit 12% in 2024, while housing shortages persist in cities like Berlin and Hamburg. STAYERY’s strategy directly addresses both. By converting 3,000 square meters of office space in Bonn alone, they’re adding housing without new land use — a win for sustainability and density. The company’s total pipeline, once complete, will bring nearly 1,700 serviced apartments online across Germany — up from just over 1,500. That’s equivalent to housing a small town’s population, all within existing building footprints. Experts note this trend is accelerating. A 2024 study by the German Real Estate Association found that 37% of vacant office space in major cities is now being considered for residential conversion. STAYERY isn’t alone — but it’s among the most systematic. Their partnerships with firms like Kintyre (operational partner for Ostkreuz) and JLL (advising on Gesundbrunnen) show they’re building a professional ecosystem, not just a brand.
What’s Next?
The next frontier? Hamburg and Stuttgart. Sources indicate STAYERY is in early talks for two additional conversions, both in former retail spaces. And while the company has stayed quiet on international plans, its German footprint is now substantial enough to serve as a blueprint. With 2027 as the big completion year for all three Berlin projects and Bonn, investors will be watching closely. Will this model scale? Can it remain profitable amid rising construction costs? The answer may shape the future of urban real estate in Europe.Background: How STAYERY Got Here
Founded in 2018, STAYERY began as a niche player offering premium serviced apartments for business travelers. Early success in Bielefeld and Gütersloh — both collaborations with Borchard Group — gave them the capital and credibility to scale. Their breakthrough came in 2022, when they secured a long-term lease on a vacant retail complex in Cologne, converting it into STAYERY Sülz. The project proved that demand existed for apartment-style living with hotel-level services — and that landlords were willing to lock in 20-year deals to avoid vacancy risk. The company’s rise coincided with Germany’s broader shift away from traditional hotels. Business travelers increasingly prefer homes over hotel rooms: more space, better kitchens, laundry, and quiet. STAYERY filled that gap with a design-forward, tech-enabled product. Now, with Bonn and three Berlin sites in play, they’re no longer just a service provider — they’re a real estate innovator.Frequently Asked Questions
How does the Bonn conversion fit into Germany’s broader housing crisis?
Germany needs an estimated 300,000 new housing units annually, but construction lags far behind. STAYERY’s Bonn project repurposes 3,000 square meters of underused office space into 79 homes — effectively creating housing without new land use or zoning changes. This approach helps ease pressure on urban cores and reduces construction emissions by 40-60% compared to new builds, according to the German Environmental Agency.
Why are companies like STAYERY partnering with developers like Bautra GmbH instead of building alone?
STAYERY specializes in operations and branding, not construction. Bautra GmbH brings deep expertise in retrofitting commercial buildings, navigating permits, and managing contractors. This division of labor reduces risk and speeds up timelines. The Bonn deal marks their first joint venture, but it’s likely the start of a pattern — STAYERY provides the concept and tenant base; developers handle the physical transformation.
What makes STAYERY different from traditional hotels or Airbnb?
Unlike hotels, STAYERY units have full kitchens, laundry, and long-term leases — ideal for stays longer than a week. Unlike Airbnb, they’re professionally managed with weekly cleaning, digital check-in, and consistent quality. Their target isn’t tourists, but business travelers, relocating professionals, and remote workers who need stability. The average stay is 4-6 months, far longer than typical short-term rentals.
When will all STAYERY projects be completed, and how many units will that total?
All current projects — Bonn (79 units), Ostkreuz Berlin (255 units), and Gesundbrunnen Center (162 units) — are scheduled for completion by mid-to-late 2027. Combined with existing locations, this will bring STAYERY’s nationwide portfolio to approximately 1,700 serviced apartments. That’s nearly a 120% increase since 2023, making it one of Germany’s fastest-growing serviced apartment operators.
Is this model financially sustainable amid inflation and rising interest rates?
Yes — because STAYERY locks in 15- to 20-year leases with rent guarantees and operational partnerships. Their Bonn project, for example, has secured financing through a 12-year fixed-rate loan. With occupancy rates above 90% in existing locations and rental yields averaging 5.2% in Berlin, the model remains attractive to institutional investors despite higher borrowing costs. The key is long-term stability, not short-term speculation.
What role do sustainability and energy efficiency play in these conversions?
Every STAYERY conversion includes upgrades to insulation, LED lighting, heat pumps, and smart energy monitoring. The Gesundbrunnen timber structure alone reduces embodied carbon by 30% compared to concrete. The company targets DGNB Gold certification for new projects and has pledged to achieve net-zero operational emissions by 2030. Repurposing existing buildings cuts demolition waste — a major environmental win in a country that generates over 200 million tons of construction debris annually.
