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Corestate Capital wants to divest in student residences
05 December 2019 | Vanessa Sousa

Despite the student residence segment being on the rise, Luxembourg’s Corestate Capital Holding decided to divest, placing three units located in Spain on the market. The value of the assets was not disclosed.

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Youniq Madrid - Photo Collected From Youniq Official Website 

One of these units is located in Madrid and it has 206 rooms. The other two are still under construction and will be located in Valencia and in Seville. 

Consultant JLL should advise the future operation, which amongst its terms imposes the maintenance of the assets’ management contract under its brand Youniq, revealed newspaper El Confidencial this Wednesday.

Despite this decision, Corestate still has two more student residences under development in the country: one in Salamanca and the other in Barcelona. In truth, Spain remains «an ideal market to expand our leading European student home platform», given the growing demand for new beds and the «bad quality of the current student home offering», revealed Thomas Landschreiber, Chief Investment Officer at Corestate, in the report dedicated to the segment launched by the company in August.

The Luxembourg group, which has been operating in Spain for five years, currently manages a set of assets estimated at 26 billion euro, according to data from its official webpage.