Acquisition in Berlin

International Campus Acquires Student Living Project in Berlin-Friedrichshain from QUARTERBACK Immobilien AG

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• Deve­lo­p­ment of 350 stu­dent apart­ments for the THE FIZZ
• Asset sold by QUARTERBACK Immo­bi­li­en AG
• Con­s­truc­tion sche­du­led to start in March 2022, ope­ning expec­ted in spring 2025

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Inter­na­tio­nal Cam­pus Group (IC), a lea­ding deve­lo­per and ope­ra­tor of stu­dent and urban living con­cepts in Euro­pe has acqui­red a plan­ned stu­dent apart­ment deve­lo­p­ment in Ber­lin-Fried­richs­hain from QUARTERBACK Immo­bi­li­en AG. The pro­per­ty, loca­ted at Mark­gra­fen­damm 7–10, will extend over a gross flo­or area of near­ly 15,000 squa­re met­res (161,500 sqft), pro­vi­ding space for 350 apart­ments with 380 beds, along with gene­rous­ly pro­por­tio­ned com­mu­ni­ty are­as inclu­ding a shared kit­chen, a co-working lounge, a gam­ing room and attrac­ti­ve out­side faci­li­ties. The sche­me was desi­gned by the archi­tec­tu­ral firm of TCHOBAN VOSS Archi­tek­ten. Con­s­truc­tion work will kick-off in March 2022 and is sche­du­led to con­clude by the sum­mer of 2025.

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“What fasci­na­ted us about the site on Mark­gra­fen­damm is the loca­ti­on: Hot­spots like the East Side Gal­lery and the ‘Bade­schiff’ floa­ting pool lie within easy wal­king distance, the same being true for the bank of the River Spree, the shore of Rum­mels­bur­ger Bucht, and the park­lands of Trep­tower Park. The rapid tran­sit sta­ti­ons ‘Trep­tower Park’ and ‘Ost­kreuz’ pro­vi­de con­ve­ni­ent access to public trans­por­ta­ti­on,” ela­bo­ra­ted Micha­el Stapf, IC’s Chief Invest­ment Offi­cer. “This latest ite­ra­ti­on of THE FIZZ in Ber­lin will offer stu­dents a place in which to feel at home, inclu­ding a casu­al atmo­sphe­re, with con­tem­po­ra­ry design fea­tures, and ple­nty of com­mu­ni­ty life.”

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Tarik Wolf, the CEO of Quar­ter­back, said: “In Inter­na­tio­nal Cam­pus, we found a com­pe­tent buy­er and expe­ri­en­ced part­ner for our pro­per­ty deve­lo­p­ment on Mark­gra­fen­damm in Ber­lin. We are con­vin­ced that the suc­cessful long-term ope­ra­ti­on in the stu­dent housing seg­ment requi­res attrac­ti­ve accom­mo­da­ti­on and ser­vice con­cepts as well as tar­get-group-spe­ci­fic bran­ding. We very much look for­ward to future col­la­bo­ra­ti­ve ven­tures with Inter­na­tio­nal Cam­pus.”

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“The acqui­si­ti­on of this pro­per­ty deve­lo­p­ment from Quar­ter­back means that we mana­ged to acqui­re a high­ly attrac­ti­ve new loca­ti­on in the Ger­man capi­tal for our pro­prie­ta­ry port­fo­lio and for our THE FIZZ brand,” added Rai­ner Non­nen­gäs­ser, the Exe­cu­ti­ve Chair­man of the Inter­na­tio­nal Cam­pus Group. “More so than other Ger­man cities, Ber­lin has a mas­si­ve short­fall in resi­den­ti­al accom­mo­da­ti­on for stu­dents and young peo­p­le, and the gap is expec­ted to widen in future. This makes us even hap­pier to be adding ano­ther loca­ti­on in Fried­richs­hain that is even lar­ger, and signi­fi­cant­ly so, than our first loca­ti­on on Köpe­ni­cker Stras­se in Kreuz­berg, which ope­ned as ear­ly as 2014.”

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Ber­lin is Germany’s lar­gest hig­her edu­ca­ti­on hub. Accor­ding to figu­res released by city hall, more than 250,000 peo­p­le from all over the world stu­dy, rese­arch and work in the city’s four uni­ver­si­ties, four uni­ver­si­ties of appli­ed sci­en­ces, four art aca­de­mies, two deno­mi­na­tio­nal uni­ver­si­ties and around 30 pri­va­te hig­her edu­ca­ti­on insti­tu­ti­ons.

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Inter­na­tio­nal Cam­pus con­ti­nues its rapid growth tra­jec­to­ry with its two brands, THE FIZZ and HVNS. Two weeks ago, the com­pa­ny acqui­red a pro­per­ty deve­lo­p­ment in Lei­den, Net­her­lands for THE FIZZ. Addi­tio­nal acqui­si­ti­ons are clo­se to sig­ning. Moreo­ver, new sche­mes have alre­a­dy ope­ned in Ham­burg, Frei­burg and Utrecht this year.

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