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