CORESTATE continues to expand its European growth initiative in the Micro Living segment by adding two new properties in Mainz and Cologne. Most recently, the company won two prestigious awards for its Micro Living brands YOUNIQ and Linked Living powered by YOUNIQ, a Red Dot Design Award and a Best-in-Class Award.
Frankfurt, 1 December 2021 – Corestate continues to expand its European growth initiative in the Micro Living segment by adding two new properties in Mainz and Cologne. Most recently, the company won two prestigious awards for its Micro Living brands YOUNIQ and Linked Living powered by YOUNIQ, a Red Dot Design Award and a Best-in-Class Award.
Offering in Mainz to be expanded
Corestate has acquired a student housing complex (PBSA) in Mainz-Hechtsheim for a large institutional investor from Germany. Built in 1990 and extensively refurbished in 2019, the complex consists of three separate buildings with a total of 473 fully furnished flats (total lettable space 9,028 sqm) and 242 parking spaces in the underground car park and outside. It offers various common areas, such as a gym, bar and a spacious laundry room. The property is let to Studierendenwerk Mainz through November 2026 and will then be developed into an additional Mainz location of Corestate’s Micro Living brand YOUNIQ. YOUNIQ is a leading provider of furnished flats for students and young professionals in Europe.
“Mainz has been a magnet for more and more students for many years. As the numbers increase, so does the demand for modern and needs-based living space. As a logical consequence, we are expanding our customised offering and are pleased to welcome the future YOUNIQ property to our family in addition to our existing location on Wallstraße,” commented Lambros Reppas, Head of Asset Management Micro Living & Residential.
Second YOUNIQ location with additional co-living offering in Cologne
Corestate is also expanding its Micro Living offering in Cologne-Deutz and has just launched the second YOUNIQ building in the cathedral city. Once the second construction phase is completed in the course of 2022, an additional 13 flats and a day care centre will be added.
Students and young professionals will now be provided with modern flats at Gummersbacher Str. 31 in the immediate vicinity of the Technical University, Lanxess Arena and Rheinterrassen. The offering will include attractively designed community lounges (including a cinema, gym and fully equipped community kitchens). A new feature is an increased focus on co-living offerings. For example, in Cologne-Deutz there are 32 shared flats in addition to the 131 single party flats. A 235 sqm penthouse flat with a spacious roof terrace is the co-living highlight. Built according to the KfW Efficiency House 40 Plus standard, the building also scores points in terms of its energy balance.
“Target audience-oriented offerings in the Micro-Living segment are the key to the successful placement of properties in this young and dynamic asset class. For our new YOUNIQ in Cologne-Deutz, we have therefore decided to focus more on co-living. As part of our pan-European growth strategy, we will integrate additional innovative living concepts into our portfolio,” added Lambros Reppas.
Top Awards underscore the Corestate Group’s Micro Living expertise
Corestate was recently awarded a Red Dot Design Award in the Brands & Communication Design category for YOUNIQ’s new corporate design, beating out 20,000 creative projects from all over the world. The second design award recently went to the brand new Vienna landmark property “Linked Living TrIIIple powered by YOUNIQ” with the Best-in-Class Award in the category “Best Student Housing Design.”
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With 830 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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