With the acquisition of a second site in the campus city of Munich, YOUNIQ AG (formerly Alta Fides AG, rebranded in mid-2009) is about to realise its ninth YOUNIQ project for student housing in five different locations in Germany. The property on Georg-Wopfner-Strasse in Munich's Freimann district enjoys very good infrastructure, with its direct underground rail link (U6 line), as well numerous shopping facilities in the surrounding area.
"The start of the 2009/2010 winter semester showed yet another increase in the number of students enrolled in Munich," explained Rudolf Bartsch, COO of YOUNIQ AG. "At the same time, with practically no living space available for students in single-person households, rent levels are higher here than anywhere else in Germany. For this reason, we also anticipate a high level demand for this YOUNIQ project, too, and that it will be let within a brief period.
"Construction of the 130 student apartments will commence in early 2010. The apartments are around 23 m² in size, with high quality furnishings and equipped with cable TV and high-speed internet connection. The investment volume totals approximately 13m Euro; the gross floor area is around 6,000 m². "Together with our project in Milbertshofen, where construction will be underway before the end of the year, we will be able to provide Munich's students with almost 200 new apartments by the 2010/2011 winter semester," said Bartsch.
Under the YOUNIQ brand, YOUNIQ AG has developed form of living that captures the spirit and the lifestyle of today's students: urbane, elegant living that is both pragmatic and affordable. YOUNIQ properties are concept properties that - in addition to providing student tenants high-quality furnished apartments - also offer a diverse range of additional leisure time activities as well as discounts on products and services, via "YOUNIQ World." In this respect, the spectrum reaches from discounted access to fitness studios, through semester parties and right up to study and career advice.
YOUNIQ AG: YOUNIQ AG (until mid-2009 "ALTA FIDES AG") is a quoted portfolio owner, project developer and specialist in student and listed housing with its headquarters in Frankfurt. With units under management throughout Germany, the company is the market leader in the German "Student Housing" segment. YOUNIQ AG is already active in this segment today, developing and managing student housing facilities nationwide, under the name "YOUNIQ". Three properties in Greifswald, Leipzig and Erlangen have been in operation since the 2009 summer semester, providing a total of over 500 housing units. Further projects will soon be under construction or are in the final stages of design. The majority shareholder in YOUNIQ AG, with 98 percent, is a fund of the private equity investor and asset manager, Corestate Capital AG. The commitment of this Swiss firm places YOUNIQ AG in the position of being able to implement their ambitious plans: Over 200m Euro will be invested in student housing in 2009 and 2010; the annual investment volume is expected to increase substantially in the years thereafter. A total of at least 1,500 to 2,500 housing units are scheduled for completion each year from 2010.
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