- Apartment operator’s European portfolio grows by 800 units in Q1 2024
- Limehome secures new leases across seven countries, launching properties in five markets
- Growth pipeline strengthened through recurring partnerships
Munich, April 23, 2024. Limehome, the leading technology-based operator of design apartments in Europe, grew its portfolio by almost 14 percent in the first quarter of 2024. By the end of March, the company signed a total of 800 new apartments, bringing Limehome’s total European portfolio to 6,800 apartments. The majority of new leases are located in Austria, Portugal, Spain, and Italy, emphasizing the company’s status as one of the fastest growing hospitality operators in Europe.
Limehome’s international growth has been driven by signings in already-established destinations such as Valéncia, Porto, and Amsterdam. Domestically, recurring follow-up deals from current partnerships have been a prevalent theme, as exemplified by developments in Kiel and Berlin. Projects building on successful partnerships have contributed considerably to Limehome’s portfolio pipeline over the past year, as many owners and managers in the real estate industry are seeking reliable, high-yield options for their assets in the current market environment.
Recurring partnerships certify Limehome’s growing reputation
In Schleswig-Holstein’s capital, Kiel, limehome has secured a lease for 70 units in a mixed-use building in Holstenstraße, centrally located in the city’s old town. The apartments are expected to be available in late 2025 following refurbishment. Expanding on a partnership that established one of Limehome’s flagship properties in Berlin, the company will increase its footprint in the up-and-coming district Wedding. In Müllerstraße, limehome will expand its offering to more than 100 apartments. The new units are expected to be operational by the end of this year.
Additionally, limehome continues its upward trajectory in procuring architectural highlights to add to its portfolio across the European continent. In Graz, Austria, Limehome has secured the Burggasse building. Designed by the internationally renowned Zaha Hadid Architects, the building showcases a façade consisting of 43 uniquely shaped fiberglass sculptures, depicting the mythological figure of Argus with one hundred eyes. Inside, 21 apartments have been in operation since mid-March 2024. limehome completed the takeover of the existing apartments in a record 22 days, demonstrating remarkable operational flexibility and speed.
Among many recent openings one standout property awaits guests in the heart of Basque’s Vitoria-Gasteiz, where visitors can stay in a former palace nestled within the city’s charming old town. Dating back to the 17th century, this historic gem has undergone meticulous restoration to preserve its iconic features, offering 33 exquisite apartments. The openings in Vitoria and Graz are part of a broader wave of launches in five different countries in the first quarter, including top tourist destinations such as Athens, Porto, Klagenfurt and Salzburg.
Josef Vollmayr, Co-CEO and Co-founder of Limehome, comments: “Limehome’s impressive outset of 2024 reflects the demand for next-generation hospitality in Europe. Our unique blend of technology, comfort and design resonates very well with visitors across the continent. Our steadfast expansion within our established markets further underscores our adeptness at swift and efficient growth. Thanks to our partners’ continued trust and our team’s tireless efforts, we are confident that 2024 will be another exceptional year for our company.”