DGAP-News

Corestate sets new standard for student housing in Pamplona, Spain

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Expansion Corestate sets new standard for student housing in Pamplona, Spain 12.11.2020 / 07:00 The issuer is solely responsible for the content of this announcement. Corestate sets new standard for student housing in Pamplona, Spain

• Significant expansion of presence in Spain
• Corestate brand Youniq with a total portfolio volume of approx. EUR 220 million
• Customers to benefit from Corestate's many years of Micro Living expertise
• High demand for high-quality student housing

Frankfurt/Main, November 12, 2020. Corestate Capital Group (Corestate), a leading independent investment manager for real estate in Europe, has launched its next student housing property located in the Spanish university city of Pamplona with an investment volume of around EUR 30 million. After its completion in 2023, it will be operated under the company's Youniq brand, which is already represented in Seville and will expand its presence in Spain by 2022 to include additional properties in Barcelona, Salamanca and Valencia. Youniq's total portfolio (GAV) in Spain will then be worth approximately EUR 220 million, with more than 1,500 beds. Corestate plans to expand its capacity there in the Micro Living sector, which also includes serviced apartments and co-living, by up to 1,000 beds per year.

"We are able to find investment opportunities for further growth in Europe despite the effects of the corona crisis. Our longstanding pioneering role in the Micro Living asset class is a key success factor in this respect. Education in particular and above all international qualifications are becoming increasingly important in difficult times with correspondingly stronger competition on the job markets. At the same time, the demand for high-quality student housing, which Corestate is offering at more and more locations, is increasing. With properties like the one in Pamplona, we are setting new standards in terms of quality, facilities and sustainability. This will benefit both our investors and the tenants," explained Nils Hübener, CIO of Corestate.