DGAP-News: YOUNIQ AG sells properties in Munich and Berlin to investors
(firmenpresse) - DGAP-News: YOUNIQ AG / Key word(s): Real Estate/Disposal
YOUNIQ AG sells properties in Munich and Berlin to investors
04.11.2013 / 12:57
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Frankfurt/Main, 4 November 2013 - YOUNIQ AG, the leading provider for
student housing in Germany, has sold two properties from its 'Student
Housing' core business area to investors. These comprise the project in
Munich's Berzeliusstrasse (123 apartments) and the property in Berlin's
Iranische Strasse (375 apartments). The property in Munich was sold at book
value before incidental transaction costs. A sales price significantly
below book value was achieved for the Berlin property. Together with the
property in Göttingen that was already sold in July of this year, however,
the real estate portfolio has consequently been streamlined by the removal
of two properties that no longer meet the YOUNIQ standard. The proceeds
from the disposals are to be deployed within the operating business and
will prospectively become cash-relevant before the end of the fourth
quarter of 2013.
Marcus Schmitz, CEO of YOUNIQ AG, commented as follows: 'As far as Berlin
is concerned, and as we had already announced, we are divesting a site that
no longer matches our high quality standards. From our perspective, further
investment in the property would have no longer proved worthwhile given
these circumstances. For this reason, we have now decided on a disposal
after reviewing several offers. The sale of our property in Munich's
Berzeliusstrasse, on the other hand, represents the pleasing conclusion of
our development project there, and reflects the high attractiveness of our
offering for investors. The rapid initial renting also pays testament to
high demand for our products and consequently the success of the YOUNIQ
concept. The property was fully rented within just a few weeks. We will
continue to be responsible for managing the property in the future, thereby
further strengthening the presence of the YOUNIQ brand.'
Company profile
YOUNIQ AG
YOUNIQ AG has focused on student accommodation since 2009. The company
covers a significant range of the value chain - ranging from the purchase
of real estate and land, through project development including planning,
planning permission procurement and construction, all the way through to
commercial and technical management. YOUNIQ has developed into a leading
provider for this segment with 3,175 high-quality apartments currently in
the management or construction phases. These properties are located at
eleven sites in Germany, including Munich, Erlangen, Karlsruhe, Frankfurt /
Main, Mainz, Potsdam, Leipzig and Bayreuth. YOUNIQ bundles its many years
of experience in project development and portfolio management for largely
residential properties. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities
Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange
(Prime Standard).
Further information is available from: www.youniq-group.de
Contact:
Dirk Ulmer
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Phone: +49 (0)611 - 205855-24
Fax: +49 (0)611 - 205855-66
Email: ulmer(at)cometis.de
Web: http://www.cometis.de/
End of Corporate News
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04.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: YOUNIQ AG
Eschersheimer Landstraße 6
60322 Frankfurt am Main
Germany
Phone: +49 (0)69-2474720
Fax: +49 (0)69-247472100
E-mail: info(at)youniq.de
Internet: www.youniq-group.de
ISIN: DE000A0B7EZ7
WKN: A0B7EZ
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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237631 04.11.2013
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Unternehmensinformation / Kurzprofil:
Datum: 04.11.2013 - 12:57 Uhr
Sprache: Deutsch
News-ID 312131
Anzahl Zeichen: 7353
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Kategorie:
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