Brookfield and International Campus


Brookfield Acquires Controlling Stake in International Campus Group

  • Brook­field real estate fund beco­mes majo­ri­ty share­hol­der
  • Focus on the core pro­ducts of apart­ments for stu­dents and young pro­fes­sio­nals
  • IC fol­lows a pan-Euro­pean stra­tegy with focus on Ger­ma­ny
  • 20,000 units under manage­ment plan­ned for the medi­um term

Sub­ject to the appr­oval of anti­trust mer­ger con­trol, a pri­va­te real estate fund mana­ged by Brook­field Asset Manage­ment has secu­red a con­trol­ling sta­ke in Inter­na­tio­nal Cam­pus Group, and will spon­sor its future growth. The terms of the tran­sac­tion remain con­fi­den­ti­al. Rolf Engel will con­ti­nue to chair the super­vi­so­ry board and the fund manage­ment. Horst Lie­der, along with Rolf Engel foun­der of Inter­na­tio­nal Cam­pus, will remain as CEO to gui­de the expan­si­on of the com­pa­ny.

Accor­ding to Horst Lie­der, CEO of Inter­na­tio­nal Cam­pus AG, “Brookfield’s com­pre­hen­si­ve, long-term-ori­en­ted com­mit­ment shows the gre­at deal of trust pla­ced in the exper­ti­se of Inter­na­tio­nal Cam­pus and the fur­ther growth poten­ti­al for this seg­ment in Euro­pe. We will use the fresh capi­tal to expand and sca­le our busi­ness model in Wes­tern and Cen­tral Euro­pe, with an empha­sis on Ger­ma­ny. Inter­na­tio­nal Cam­pus will con­ti­nue to focus on its core pro­ducts of apart­ments for stu­dents and young pro­fes­sio­nals.”

Com­men­ting on the stra­tegy, Lie­der says, “We are curr­ent­ly ope­ra­ting, imple­men­ting, or plan­ning a total of about 11,800 apart­ments in 33 loca­ti­ons in four count­ries. Our objec­ti­ve is to pene­tra­te the mar­ket fur­ther with around 20,000 units in the medi­um-term. The stra­tegy is gro­wing our exis­ting busi­ness and to build up an on-balan­ce sheet real estate port­fo­lio of signi­fi­cant sca­le. At the same time, we will con­ti­nue to mana­ge our exis­ting funds. ”

Zach Vaug­han, Mana­ging Part­ner and Euro­pean real estate head at Brook­field, says, “The­re is unmet demand for pur­po­se-built stu­dent and young pro­fes­sio­nal accom­mo­da­ti­on in Ger­ma­ny and Con­ti­nen­tal Euro­pe. Alt­hough this sec­tor is rela­tively nas­cent, Inter­na­tio­nal Cam­pus is a mar­ket lea­der and has the ope­ra­ting, sourcing and deve­lo­p­ment capa­bi­li­ties neces­sa­ry to build a first-class insti­tu­tio­nal port­fo­lio. We are exci­ted about this oppor­tu­ni­ty and look for­ward to working with Inter­na­tio­nal Cam­pus on their ambi­tious growth plans.”

Brook­field Asset Manage­ment is lis­ted on the NYSE, TSX and Euron­ext and has more than 230 bil­li­on euros of assets under manage­ment in 30 count­ries over­seen by around 70,000 employees. In Ger­ma­ny, Brook­field and other part­ners purcha­sed Pots­da­mer Platz in Ber­lin, inclu­ding 16 buil­dings, ten streets, and two squa­res at the end of 2015.

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