EANS-News: YOUNIQ AG continues its expansion strategy
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Marketing
Subtitle: Company purchases another site of around 4,540 sqm at
Frankfurt-Riedberg / 254 student apartments set to be built in the direct
vicinity of the campus / Property is part of the closed-end real estate fund for
student housing initiated by MPC Capital
Frankfurt am Main (euro adhoc) - 31 August 2011 - 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.
Company profile
YOUNIQ AG
YOUNIQ AG has focused on student accommodation since 2009. The company covers a
significant portion of the value chain - ranging from the purchase of properties
and land, through project development, including planning, procurement of
planning permission, construction, and 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 that are in either the
management or construction phases. The properties are located at nine sites in
Germany, including Munich, Erlangen, Karlsruhe, Frankfurt am Main, Mainz and
Leipzig. YOUNIQ draws together many years of experience acquired in the areas of
project development and the portfolio management of largely residential
properties. Due to its past business operations, YOUNIQ AG holds an existing
portfolio comprising a further 951 units, thereby allowing stable rental income
to be generated. YOUNIQ AG (ISIN: DE000A0B7EZ7, WKN: A0B7EZ) is listed on the
Frankfurt Stock Exchange (Prime Standard).
Further information is available from: www.youniq-group.de
Further inquiry note:
Kontakt:
Investor Relations
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 - 205855-11
Fax: +49 (0)611 - 205855-66
E-Mail: wiehle@cometis.de
end of announcement euro adhoc
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company: YOUNIQ AG
Neue Mainzer Strasse 28
D-60311 Frankfurt am Main
phone: +49(0)69 35101480
FAX: +49(0)69 351014890
mail: ir@youniq.de
WWW: http://www.youniq-group.de
sector: Real Estate
ISIN: DE000A0B7EZ7
indexes:
stockmarkets: free trade: Berlin, Stuttgart, Düsseldorf, regulated
dealing/general standard: Frankfurt
language: English