YOUNIQ AG, seated in Frankfurt, is realising its second student living project in Leipzig. At Querstrasse 15/17, a total of 90 studio apartments on a gross lettable area of 2,660 square metres are slated for completion by the summer semester of 2011. Construction will start in spring of 2010. YOUNIQ AG already sold the estate during the project run-up to a private investor who signed a long-term management agreement with YOUNIQ AG to operate the properties according to the YOUNIQ concept. It was agreed not to disclose the purchase price.
Rudolf Bartsch, CEO of YOUNIQ AG, considers the early sale as vindication of his company's investment concept: "YOUNIQ housing estates for students have established a new asset type in Germany that meets with a very high demand among CORE investors, particularly among insurance companies, foundations or family offices. At the moment, we could sell substantially more properties than we have in stock."
YOUNIQ AG developed the YOUNIQ brand as an alternative form of living that matches the needs of today's students: YOUNIQ properties represent conceptual real estate that provides its student tenants, in addition to high-end, full furnished apartments, with a diversified range of recreational activities, discounts on products and services - the campus world of "YOUNIQ Welt." The program's spectrum extends from lower gym membership rates, to hosted student parties, all the way to degree- and career-planning services.
"Full occupancy and a YOUNIQ sale in Leipzig, a city with comparatively relaxed housing market, are testimony to the high attractiveness of fully furnished studio apartments for students. It encourages us to consistently pursue our expansion in Leipzig and other German campus locations," Bartsch commented. In addition to Leipzig, YOUNIQ properties are already operational in Erlangen and Greifswald. Construction of new units is underway in Munich and Karlsruhe.
The 90 apartments at Querstrasse 15/17 are located in a listed property that was raised by the architects Schmidt and Johile for the Teubner Verlag publishing house in 1907. The apartments with a floor space of about 22 square metres each are let at an all-inclusive rent starting as low as 290 Euros. "All-in" means: There are no extra charges, while high-end furnishing and features as well as cable TV and a high-speed Internet connection are included. As early as April 2009, 29 residential units in line with the YOUNIQ concept were completed at the address of Paul-List-Strasse 24/26, and these are fully let. Another 61 apartments are under construction in a second building phase, scheduled to be completed in spring of 2010.
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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