YOUNIQ realises its second project in Leipzig

Leipzig, 7 December 2009. Sale of 90 Units to Private Investor ahead of the Start of Construction

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 of2011. 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 (formerly Alta Fides AG until mid-2009) is a listed specialist for student living with headquarters in Frankfurt am Main, Germany. Under the name of YOUNIQ, the company develops, sells, and operates concept-driven properties for students that are managed on behalf of end investors or else are held in a proprietary portfolio. Some of the student concept properties will be sold in the future, others will be held as part of the portfolio. The portfolio includes 2,500 student apartments, 500 of which are managed as YOUNIQ products. Construction of additional units is underway in Munich and Karlsruhe, among other cities. YOUNIQ AG intends to expand rapidly in the coming years. Overall, the plans call for the completion of at least 1,500 to 2,500 residential units annually. Majority partner of YOUNIQ AG is a fund owned by the private equity investor and asset manager CORESTATE Capital AG with headquarters in Zug, Switzerland.