YOUNIQ AG Holds Topping Out Ceremony at Second Property in Erlangen

Erlangen, 20 October 2009; YOUNIQ AG Holds Topping Out Ceremony at Second Property in Erlangen

Today, three months after the opening of their first student housing project in Erlangen, YOUNIQ AG (until mid-2009, Alta Fides AG) will celebrate the topping out ceremony for the second phase of construction in Drausnickstrasse 1a. By April 2010, a further 94 apartments will be completed here in accordance with the YOUNIQ concept, which enables students to live in their own four walls and, at the same time, within a student community. "Students in Erlangen are already wistfully awaiting the nearly 100 additional YOUNIQ apartments. We have even started receiving the first reservations," explains Rudolf Bartsch, COO of YOUNIQ AG. "This demonstrates just how urgently a solution is required for the shortage of student living space in Erlangen, as well as in other German college locations. That is exactly what we are aiming at with YOUNIQ."

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 has already successfully marketed these concept properties not only in Erlangen, but also in Greifswald and Leipzig. Further properties are under construction in Leipzig, Munich and Karlsruhe, with a total investment volume of around 80m Euro.

"The old barracks on Drausnickstrasse is being filled with new life with YOUNIQ," enthused Erlangen's alderman, Manfred Hopfengärtner, expressing his appreciation that the total of around 200 student apartments have been completed or are being created solely through the commitment of private enterprise. This listed building, formerly used as an infantry barracks, is now undergoing elaborate refurbishments and modifications to provide student accommodation. The two construction phases will unfold on a site area of approximately 4,600 m². A total of 193 housing units will be created. The 1- to 2-room apartments may be rented for an all-in rent, starting at 370 Euro. The all-in rent covers all operating expenses, electricity, cable TV and a high-speed internet connection. The apartments are equipped with high-quality fixtures and furnishings. No additional costs are incurred for the use of the communal areas.

The YOUNIQ properties in Erlangen are situated in a prime location on the edge of the city centre. The site is located directly next to a bus-stop, providing swift and easy access to all faculties of Bavaria's second-largest university. There are numerous shopping facilities covering daily needs in the direct vicinity of the future student apartments. Even the world's largest Siemens plant, which employs numerous students, can be reached in just a few minutes. The first phase of YOUNIQ Erlangen, completed in June 2009, was acquired by an institutional investor from the insurance industry. The second construction phase of YOUNIQ Erlangen has already been fully sold to private capital contributors before its completion. Sparkasse Erlangen, with Sparkassen Immobilien Vermittlungs GmbH was instrumental in the marketing and sale of this second construction phase. 

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.

By: CU