YOUNIQ AG, the leading provider of high-quality student apartments in Germany,
continues to focus on its core "Student Housing" business. The company
has acquired a further site in Frankfurt-Riedberg via notarial purchase agreement,
with the property totalling an area of around 4,540 square meters. The project
"YOUNIQ Riedberg II" will be built around 200 meters from
campus and will encompass 254 apartments with a total
living space of around 5,600 square meters as well as 85 parking spaces. Construction is due
to begin in January 2012. This increases the number of apartments under management or under
construction to
2,453 units.
In addition to the nearby campus, which is just a short walk away, "YOUNIQ Riedberg II" also boasts ideal transport connections to the city centre, with everyday necessities being satisfied by the shopping centre located opposite the new development. The company plans to continue its successful YOUNIQ concept "Plug & Study" at the site, renting fully furnished apartments on the basis of an all-in rent. The rent, which will start from around EUR 450 / month will include all ancillary costs as well as Internet and cable TV fees.
Rainer Nonnengässer, CEO of YOUNIQ AG, is delighted about this acquisition next door to the up-coming natural sciences centre of Goethe University Frankfurt: "Riedberg is a highly attractive location for us due to the roughly 6,500 students expected at the new campus and the shortage of accommodation in the area. From an operational point of view, this represents another step towards systematically expanding our leading market position in the "Student Housing" sector. We are confident of making further purchases in the near future."
The project "YOUNIQ Riedberg II" will make up part of the closed-end real estate fund for student housing initiated by the investment company MPC Capital. As a result, YOUNIQ AG will balance the project under inventory properties, which will see income effects with transfer of the project to the MPC fund. This is likely to take place in the first half of 2013.
YOUNIQ AG: YOUNIQ AG has focused on student accommodation since 2009. The company covers a significant range of the student accommodation value chain - ranging from the purchase of real estate and land, through project development including planning, planning permission procurement and construction, all the way through to commercial and technical management. YOUNIQ has developed into a leading provider for this segment with currently 2,453 high-quality apartments under management or under construction. These properties are located at eight sites in Germany, including Munich, Erlangen, Karlsruhe, Frankfurt am Main, Mainz and Leipzig. YOUNIQ bundles its many years of experience in the project development and asset management areas for largely residential properties. Drawing on its historic business operations, YOUNIQ AG holds an additional portfolio of 951 units that generate a stable rental income stream. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange (General Standard).
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