Frankfurt-based Youniq is developing its second student living project in Leipzig with a total of 90 studio apartments on a gross lettable area of 2,660 m[sup]2[/sup] are slated for completion by the summer of 2011. Construction will start in spring of 2010.
Frankfurt-based Youniq is developing its second student living project in Leipzig with a total of 90 studio apartments on a gross lettable area of 2,660 m2 are slated for completion by the summer of 2011. Construction will start in spring of 2010.
It was agreed not to disclose the purchase price
Youniq has already sold the estate during the project run-up to a private investor who signed a long-term management agreement with the firm to operate the properties according to the 'Youniq concept.'
Rudolf Bartsch, CEO of Youniq, said the early sale is vindication of his company’s investment concept. 'Youniq housing estates for students have established a new asset type in Germany that meets with a very high demand among core investors, particularly among insurance companies, foundations or family offices. At the moment, we could sell substantially more properties than we have in stock.'
