International Campus launches refurbishment program

• Follow-on invest­ments of 16 million euros
• Imple­men­ta­tion of moder­niza­tion and refur­bish­ment measures in six proper­ties to complete by winter semester 2023 / 2024
• Program promises state-of-the-art apart­ment and commu­nity space, improved look-and-feel and further value-add impro­ve­ments

Inter­na­tional Campus Group, one of the leading inves­tors, develo­pers, portfolio holders and opera­tors in the student housing and urban living sector in Central Europe, is launching a major moder­niza­tion and refur­bish­ment program for six fully-leased apart­ment buildings compri­sing 2,200 residen­tial units, which were acquired by the residen­tial housing provider in the last six months. The capex program for the THE FIZZ locations in Berlin-Kreuz­berg, Bremen, Darmstadt, Frank­furt-Gallus, Hanover and Vienna-Brigit­tenau includes the design and struc­tural moder­niza­tion and refur­bish­ment of the common areas and student apart­ments. The project will be imple­mented in stages and largely completed by the start of the 2023 / 2024 winter semester. Inter­na­tional Campus is inves­ting appro­xi­m­ately 16 million euros to the upgrades.

“With this reposi­tio­ning, Inter­na­tional Campus is inves­ting in state-of-the-art upgrades to improve the attrac­ti­ve­ness and value of the assets. Student housing in Germany and Austria conti­nues to mature and improve and these proper­ties, amongst the first in the market, are begin­ning to show their collec­tive age,” said Gawain Smart, CEO of Inter­na­tional Campus. “We’ve taken a hard look at all the buildings in our portfolio and are taking steps to bring older proper­ties up to contem­po­rary, high-quality standards: fresh layouts, durable finishes, intui­tive interior zoning, new services like digitally bookable rental items, and depen­ding on location, gyms and more space for comfort and socia­li­zing.”

Inter­na­tional Campus was founded in 2011. The Inter­na­tional Campus Group portfolio currently comprises more than 5,200 residen­tial units in opera­tion and appro­xi­m­ately 2,500 units under construc­tion and planning in four European count­ries. Earlier this year, Inter­na­tional Campus acquired five proper­ties already managed under the THE FIZZ brand in Berlin (Köpeni­cker Straße), Darmstadt (Schöf­fer­straße), Frank­furt am Main (Mainzer Landstraße), Hanover (Am Kläpper­berg) and Vienna (Dresdner Straße). The residence in Bremen was the first property ever to be opened under the THE FIZZ brand in 2012 and has been operated by Inter­na­tional Campus since and was added to the company’s own balance sheet at the end of 2022.