EANS-News: YOUNIQ AG continues its expansion strategy
31.08.2011 – 07:52
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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