International Campus acquires THE FIZZ properties in Hamburg and Freiburg from Capital Bay for €230 million
- Hamburg: 777 micro apartments branded as THE FIZZ and HVNS
- Freiburg: New building branded as THE FIZZ with 344 student apartments
From Operator to Owner: International Campus Group (IC), which specialises in housing concepts for students and young professionals in Europe, is pleased to announce that it has acquired two properties with over 1,100 micro apartments from Capital Bay. The Hamburg property, located on Stresemannstraße, and the Freiburg asset, located in Freiburg Mitte, were developed and already being operated through IC’s development and operation platforms. Hamburg’s THE FIZZ has been in operation since the summer of 2020 and features 563 apartments for students and trainees. September 2021 will see the opening of the HVNS (derived from “havens”), a unique concept for the City of Hamburg offering 214 fully equipped apartments for professionals. Final fitouts are underway in Freiburg Mitte, where the Company is targeting opening in August of this year with 344 beds for students.
“Our team leads the acquisition, development, letting and management of student projects in Europe. This reflects the strength of the IC platform in finding, developing and bringing to full occupancy excellent student and professional living properties that are not otherwise readily accessible”, says Gawain Smart, CEO of International Campus Group.
“As one of the leading developers and operators of temporary housing concepts in Northern Europe, we aim to build our own attractive property portfolio. Our growth strategy also includes acquiring some of the buildings that are still third-party financed but already operated by us”, explains Rainer Nonnengässer, Executive Chairman of the IC Group.