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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