numa pushes ahead with European growth

European apartment operator numa is ramping up its pace of expansion, building its team as it plans its portfolio growth across Iberia, Nordics, and Italy.

The acceleration comes after a busy 2023, when the group expanded its portfolio to more than EUR2bn of property under management. By February 2024, it had 5,850 units in 32 cities, across 14 European countries, following market entry into France, the Netherlands, the Czech Republic and Switzerland.
New additions to the team include Carmine Tobiello, director for real estate in Iberia; Fredrik Berlin with responsibility for growth in Norway, Sweden, Denmark, and Finland; and Umberto Ottaviani, taking care of Italian expansion.

In 2023, numa secured a new backer in VerInvest, and attracted a further EUR59m in growth funding by a series C funding round. Some of that capital was deployed with the acquisition of Yays, the Amsterdam-based serviced apartment business. The addition of Yays brought on board a portfolio of more than 600 opeational Netherlands, Belgium, and France, all of which are already in operation, as well as upcoming projects in Germany and Spain.

The company succeeded in continuing its rapid growth in 2023 and, together with the YAYS team, we plan to further accelerate our growth in Europe through 2024,” said Christian Gaiser, CEO and co-founder of the NUMA Group.

In Paris, numa took over a hotel with 40 rooms, close to the Gare du Nord and Gare de l’est. In Copenhagen, a partnership with Invesco Real Estate will see the group’s first Danish property developed in the Nørrebo district. Strong on green credentials, the property will operate under a green lease, having been certified with a target of DGNB Gold.

Further additions are joining the portfolio across the group’s home DACH region. In Stuttgart, upgrade work is under way on a central property that will open in June 2024 with 82 units. And in Vienna, numa will repurpose a historic building in the city centre, expecting to open the refurbished property in April 2025. And in Salzburg, numa expects to open a new block later in 2024.