Corestate invests €25M in student apartments

Corestate invests €25M in student apartments

This project represents a 25 million euro investment, according to information gathered by Eje Prime from company sources. Its goal is to offer 258 shared apartments, which represent a total of 301 beds.

This building – located at Calle Santiago Diego Madrazo, next to the city’s university – has 4.000 sqm NLA and several common areas: gym, living room, terrace and 74 parking spots.

The project will be managed under the brand Youni, and it should start operating during the third semester of 2022, when it opens its doors to the public.

 «Spain is.a key market for our growing strategy as providers of student accommodation», mentioned Lars Schnidrig, the company’s CEO, in an interview to the same newspaper.

Corestate also has other ongoing alternative projects. In 2019 alone, the company should invest around 100 million euro in student residences. It currently has a student residence under development in Seville which should open in 2020 and another in Valencia. Cities such as Bilbao and Pamplona are also under the company’s radar.

It also intends to invest a further 200 million euro, together with Medici Living, on the coliving segment. On the other hand, the emergent business apartments segment is also under its radar. The Luxembourg company should be opening its first units in Barcelona and Madrid, each with 200 beds.

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