CORESTATE is expanding its micro-living platform with the launch of JOYN, a new product line for serviced apartments. Offering a high quality and innovative design and a comprehensive service concept, JOYN is specifically geared to business travelers, project workers and commuters, who have higher demands on furniture and service as a traditional Hotel environment is able to provide.
Frankfurt, 24th of January 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, is expanding its micro-living platform with the launch of JOYN, a new product line for serviced apartments. Offering a high quality and innovative design and a comprehensive service concept, JOYN is specifically geared to business travelers, project workers and commuters, who have higher demands on furniture and service as a traditional Hotel environment is able to provide.
„With JOYN we provide our clients with a luxury alternative within the booming asset class micro-living. This is, what makes our offer unique in Europe. We expect strong demand from tenants and investors”, says Thomas Landschreiber, Co-Founder and Chief Investment Officer of CORESTATE. „By a continuous expansion of our product portfolio in this segment, we provide our clients with a broad variety of investment opportunities in a trendsetting asset class and, concurrently, enhance the earnings base of CORESTATE Capital Group.”
JOYN sets new standards in design and service
The fully furnished apartments include a kitchen and provide more living space, a modern design and more comfortable furnishings than Hotel rooms do. Apart from an extensive personal service package, various other offerings for guests are available. The duration of stay is flexible up to six months and guests only pay services that are actually used.
Investment volume for JOYN-buildings amounts to Euro 500m
Eight JOYN-houses with an investment volume of around half a billion euro and with more than 1,100 beds were already secured for clients. The first two serviced-apartment properties recently opened in Munich, comprising in total 315 serviced apartments. Further buildings in Germany (Cologne, Düsseldorf, Hamburg, Frankfurt), Austria (Vienna) and Switzerland (Zurich) are currently under development and will open successively. Prospectively, JOYN houses are to be established in all major European metropolises.
JOYN is, next to YOUNIQ and Linked Living, CORESTATE’s third own micro-living brand. Since December last year, CORESTATE has also been cooperating with Medici, Europe’s leading co-living service provider. With over 30,000 units, CORESTATE runs one of the largest European micro-living platforms and is among the leading providers in the segment.
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 some 800 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 (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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