EANS-News: YOUNIQ AG drives ahead with portfolio optimisation
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Company Information
Subtitle: YOUNIQ reduces real estate holdings in its "Renting and Trading Real
Estate" segment with sale of "Alte Hauptpost" property in Leipzig / Sales price
exceeds EUR 6.2 million book value / Greater concentration on core "Student
Housing" business
Frankfurt am Main (euro adhoc) - September 19, 2011 - YOUNIQ AG, one of the
leading providers of high quality student apartments in Germany, has sold the
"Alte Hauptpost" property in Leipzig to a project company owned by Grand City
Hotels GmbH, Berlin. Earnings on the sale of the property that is located on the
Augustusplatz in Leipzig were optimised with the sales proceeds exceeding the
property's book value of EUR 6.2 million. This particularly serves to help
YOUNIQ expand its core "Student Housing" business.
The "Alte Hauptpost" property in Leipzig's city centre comprises an un-renovated
set of a total of four listed historic buildings. The land area of the property,
which was acquired in 2007, stands at around 13,400 m². The buyer of the
property is one of Europe's leading hotel management companies with around 100
hotels in Germany, the Netherlands, Belgium, Austria, Cyprus and Spain. Grand
City owns more than 13,000 hotel rooms, and receives more than three million
guests per year.
Rainer Nonnengässer, CEO of YOUNIQ AG, regards the company's core "Student
Housing" business as being further strengthened as a result of the transaction:
"As part of our strategic concentration on Student Living, the focus in the
"Renting and Trading Real Estate" segment is on disposing of our real estate
holdings in a manner that optimises earnings. This allows us to free up
additional capital in order to further expand our core business."
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