EANS-News: YOUNIQ AG drives ahead with portfolio optimisation
19.09.2011 – 08:01
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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