German listed fund manager MPC Capital plans to launch several closed-end vehicles for student housing by end-2013. To obtain the assets MPC has formed a joint venture with Youniq, the Frankfurt-listed student accommodation specialist. The partnership has already carried out its first transaction, with the sale of four student residential projects being developed by Younig to a fund launched by MPC Capital for EUR 63 mln.

The first MPC fund is acquiring the Youniq projects in Greifswald (176 units), Karlsruhe (370 units), Munich Schleissheimer Strasse (80 units), and a development property in Frankfurt am Main (250 units). The placing for the fund is set to start in the third quarter of 2011.

Youniq said the partnership would give a broad investor base access to student housing for the first time.

Youniq is the largest private provider of student accommodation in Germany. At end-2010 it owned and managed 922 student apartments while a further 880 apartments were under development or in the construction phase. The company is majority-owned by Swiss private equity investor Corestate Capital through one of its vehicles.

Hamburg-based MPC is an originator of shipping, real estate and energy funds. The company has launched 109 closed-end real estate funds with a total of EUR 2.8 bn of equity. The funds have invested a total of EUR 6.2 bn in property.