Rainer Nonnengässer, the former global chief operating officer at AXA Real Estate Investment Managers, has become the new chief executive of German student accommodation company, Youniq.
Youniq, which is owned by Swiss-based private equity real estate firm Corestate Capital, said Nonnengässer, 47, was taking over from Rudolf Bartsch who has resigned for health reasons.
Also today, Youniq said Georg Reul was joining the company's supervisory board. He was most recently at German real estate investment company, IVG, where he was in charge of the institutional and private investment funds.
Youniq was taken over by Zug-based Corestate Capital when Corestate bought parent company, Alta Fides in 2008.
The company develops, sells, and operates properties for students.