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CORESTATE launches “JOYN”, a new product line for serviced-living apartments

CORESTATE is expanding its micro-living platform with the launch of JOYN, a new product line for serviced apartments. Offering a high quality and innovative design and a comprehensive service concept, JOYN is specifically geared to business travelers, project workers and commuters, who have higher demands on furniture and service as a traditional hotel environment is able to provide.

 

CORESTATE launches “JOYN”, a new product line for serviced-living apartments

  • Lifestyle-apartments with comprehensive service concept for business travelers
  • Eight assets with an investment volume of EUR 500m secured for clients
  • Two properties operational already, six further ones under development

Frankfurt, 24th of January 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, is expanding its micro-living platform with the launch of JOYN, a new product line for serviced apartments. Offering a high quality and innovative design and a comprehensive service concept, JOYN is specifically geared to business travelers, project workers and commuters, who have higher demands on furniture and service as a traditional hotel environment is able to provide.

„With JOYN we provide our clients with a luxury alternative within the booming asset class micro-living. This is, what makes our offer unique in Europe. We expect strong demand from tenants and investors”, says Thomas Landschreiber, Co-Founder and Chief Investment Officer of CORESTATE. „By a continuous expansion of our product portfolio in this segment, we provide our clients with a broad variety of investment opportunities in a trendsetting asset class and, concurrently, enhance the earnings base of CORESTATE Capital Group.”

JOYN sets new standards in design and service

The fully furnished apartments include a kitchen and provide more living space, a modern design and more comfortable furnishings than hotel rooms do. Apart from an extensive personal service package, various other offerings for guests are available. The duration of stay is flexible up to six months and guests only pay services that are actually used.

Investment volume for JOYN-buildings amounts to EUR 500m

Eight JOYN-houses with an investment volume of around half a billion euro and with more than 1,100 beds were already secured for clients. The first two serviced-apartment properties recently opened in Munich, comprising in total 315 serviced apartments. Further buildings in Germany (Cologne, Düsseldorf, Hamburg, Frankfurt), Austria (Vienna) and Switzerland (Zurich) are currently under development and will open successively. Prospectively, JOYN houses are to be established in all major European metropolises.

JOYN is, next to YOUNIQ and Linked Living, CORESTATE’s third own micro-living brand. Since December last year, CORESTATE has also been cooperating with Medici, Europe’s leading co-living service provider. With over 30,000 units, CORESTATE runs one of the largest European micro-living platforms and is among the leading providers in the segment.

IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com

PR Contact
Andre Zahlten
T: +49 69 3535630-108 / M: +49 174 4022348
andre.zahlten@corestate-capital.com

About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 25bn in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 730 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange.

Forward-Looking Statements
This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

 

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