Capital Bay

What Capital Bay does

Capital Bay Group is a Berlin-headquartered, vertically integrated real estate investment manager and developer founded in 2016, focused on the modular new-build construction of residential housing in Germany. The company operates across the full real estate value chain — land identification, financing, project development, construction, and operation — and runs a dedicated service-living operating brand called Stayurban. Its core competitive proposition combines investment management with industrial modular construction delivered through a joint venture with Daiwa House (DAIWA HOUSE CB B.V. – DACH), which operates a production facility in Fürstenwalde capable of factory-prefabricating residential modules at scale.

The technology underpinning the platform is industrialized modular construction: building units are manufactured in factory conditions rather than assembled on-site, enabling faster delivery, cost certainty, and plan reliability versus conventional German construction. Capital Bay's signature deployment is the Landsberger Allee project in Berlin-Lichtenberg — Europe's largest modular housing project — comprising 1,548 apartments built from 3,289 modules; on top of this, the Stayurban operating layer opened in Magdeburg's Klinke-Viertel in November 2024 to capture rental economics on completed assets.

The business model blends three revenue streams: recurring investment management and performance fees on institutional mandates around modular residential product, project-level development and construction management fees, and operating rental income from Stayurban. Capital Bay is a private firm with €0.5 billion in AuM as of Q2/2025 and 251–500 employees. It targets institutional investors, German municipalities (e.g., Magdeburg, County Oder-Spree), and corporate enterprises; geographic footprint is anchored in Germany with emerging dialogue around Ireland.

Name

Capital Bay

Legal name

Capital Bay Group

Website

https://capitalbay.de

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Capital Bay Group is a Berlin-based, vertically integrated real estate investment manager and developer founded in 2016 that uses industrial modular construction (via its Daiwa House JV) to build and operate ESG-compliant residential housing for institutional investors, German municipalities, and corporate clients.

Ownership category

akta.pro rank

Product category

Real Estate Investment & Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Building Construction (23611)

SIC

Operative Builders (1531), Lessors Of Real Property, Nec (6519), Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Real estate investment management
• Modular construction
• Residential development
• Property operations
• ESG-compliant housing

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Management Fees: Managing real estate investments on behalf of institutional investors, generating management and performance fees.
2. Development Fees: Revenue from project development services including land acquisition, planning, and construction management for modular residential projects.
3. Property Operations (Stayurban): Operating service-living apartments under the Stayurban brand, generating rental income from urban residential units.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Capital Bay operates as a vertically integrated investment and development partner for modular residential construction in Germany. The company manages institutional capital, identifies land, develops residential projects, builds them via industrial modular construction through its DAIWA House joint venture, and operates the completed properties under its Stayurban service-living brand. Core offerings include investment management mandates, project development, modular construction services, and rental property operations.

Product overview

Capital Bay operates as a vertically integrated real estate investment and development partner offering modular, efficient housing solutions. The company provides services across the entire real estate value chain: investment management, development, construction, and property operation. Their primary product is Stayurban, a service-living sub-brand offering modern urban living accommodations. Capital Bay's modular construction capabilities are enabled through a joint venture with DAIWA, allowing industrial manufacturing of building modules for faster, cost-secure construction compared to conventional building methods. The company targets institutional investors, municipalities, and corporations requiring scalable, ESG-compliant new construction products.

Differentiator

Problem solved

Functional benefit

Brands

• Stayurban: Service-living brand offering modern, urban residential rentals in city centers.

Products and services

• Investment Management Services End-to-end investment management of modular residential real estate on behalf of institutional investors, generating management and performance fees. Covers fund structuring, capital deployment, and asset oversight.
• Real Estate Development Services Project development services including land acquisition, planning, financing, and construction management for modular residential developments in German urban areas. Targets institutional investors, municipalities, and corporate clients.
• Modular Construction (via DAIWA House JV) Industrial manufacturing of residential building modules in a factory setting, delivered through the DAIWA HOUSE CB B.V. – DACH joint venture. Enables faster, more cost-secure, and plan-reliable construction compared to conventional methods. The Fürstenwalde facility produced 3,289 modules for the Berlin-Lichtenberg project (1,548 apartments).
• Stayurban Service-Living Brand Service-living rental brand offering modern, urban residential accommodations in city centers. Targets residents seeking contemporary, fully-furnished urban living solutions. Operates as a wholly-owned subsidiary of Capital Bay Group.

Quantifiable outcome

• 3,289 modules installed for 1,548 apartments at Berlin-Lichtenberg project

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core and minor.

• DAIWA House / Daiwa House Living GermanycoreStrategic or Co-development PartnerCapital Bay operates a joint venture with DAIWA House (DAIWA HOUSE CB B.V. – DACH) for modular residential construction. The partnership combines Capital Bay's investment and development expertise with Daiwa House's industrial modular manufacturing capabilities, enabling faster, more cost-efficient construction of modern housing. The joint venture operates a modular production facility in Fürstenwalde, Germany.
• Martin Gerth alias NoizeminorOthersCapital Bay supports community arts initiatives by providing space at the Klinke-Viertel development in Magdeburg for street art and light art projects organized by local artist Martin Gerth.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Instone Real Estate Group: One of Germany's leading residential real estate developers, focused on new-build apartments in German metropolitan areas. Directly comparable as a German residential developer competing for similar municipal and institutional mandates.
• Patrizia: European real estate investment manager with significant residential exposure and pan-European asset management operations. Closely comparable investment management-led business model serving institutional investors.
• Bonava: European residential developer active in Germany and the Nordics, building and selling apartments and townhouses. Comparable in residential development focus and multi-country European footprint.
• Boklok: Joint venture between Skanska and IKEA producing modular-built sustainable homes across the Nordics and Europe. Most direct functional comparable for industrial modular housing construction and ESG positioning.

Broad incumbents

• Vonovia: Europe's largest residential real estate company and Germany's dominant landlord. Comparable residential focus but vastly larger and operates as incumbent owner/manager rather than vertically integrated developer.
• LEG Immobilien: Major German residential property company managing approximately 165,000 apartments, primarily in North Rhine-Westphalia. Comparable in German residential focus at incumbent scale.
• TAG Immobilien: German residential real estate company focused on northern German metropolitan areas with ~88,000 units. Comparable German residential exposure with both ownership and project development activity.
• Heimstaden: European residential property owner and developer active across Germany and the Nordics. Comparable in pan-European residential investment and ESG-aligned housing positioning.

Others

• Daiwa House: Japan's largest homebuilder and Capital Bay's JV partner in DAIWA HOUSE CB B.V. – DACH. Strategic partner and provider of industrial modular manufacturing capability underpinning Capital Bay's construction platform.

Emerging players

• Plant Prefab: US-based modular housing manufacturer focused on sustainable, factory-built custom and multifamily homes. Comparable technology category (industrial modular housing) though operating in a different geography and stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookde-de.facebook.com/martin.noize
• LinkedInlinkedin.com/company/capital-bay-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capital Bay