Alta Fides, an investment company of Germany-focused Corestate Capital, is marketing three projects as it seeks to create 2,500 student accommodation units a year.
The company said it was marketing the projects in Greifswald, Erlangen and Leipzig – totalling more than 500 residential units – under the marketing brand YOUNIQ.
Student accommodation is a relatively untapped real estate investment class in Germany, however Zurich-based Corestate is investing in the sector through Alta Fides, which it took over last year.
The first three properties will be operational by the summer. Alta Fides said it would invest more than €200 million in student accommodation in Heidelberg, Karlsruhe and other locations in the western regions of Germany this year and 2010. After that, the company is planning to complete between 1,500 and 2,500 residential units a year.
Rudolf Bartsch, chief executive of Alta Fides, said the company was Germany’s first private and national provider in the sector. It is developing and managing the residential properties in all major German campus locations. “YOUNIQ presents an entirely new option for students, and does not directly compete with the open housing market or the dormitory accommodations offered by student unions,” he added.
Corestate invested in Alta Fides out of its Corestate Residential fund, which closed last May on €490 million.