SIGNA Real Estate sells a completed project development in Munich to International Campus
THE FIZZ Munich with over 200 student apartments opens in time for the summer semester
THE FIZZ now also has a presence in Bavaria’s capital: International Campus GmbH (IC), which specialises in temporary living concepts for students and professionals, has acquired a recently completed project development for student apartments in Munich from SIGNA Real Estate, comprising a new turnkey nine-storey building and an existing five-storey building with a total of 234 apartments. The premises have been opened in time for the 2021 summer semester.
This is the second successful transaction between the two companies in quick succession. Just a few weeks ago, SIGNA was able to announce the sale of a comparable property to IC in the city of Aachen.
The Hanebergstraße 2 building ensemble in the Nymphenburg district offers modern, fully furnished apartments with up to 40 m² of living space, including a kitchenette and bathroom, on a total area of over 9,000 m². To implement THE FIZZ’s typical community concept, IC is building study rooms according to its own designs, a large communal kitchen and a two-storey multifunctional room with gallery, which can be used as a movie or gaming lounge or – once the pandemic has run its course – as a party location.
A number of apartments for professionals are also planned in the existing building. These apartments also have their own exclusive common areas such as a small conference room, a kitchen and a lounge to relax. The 1,000 m² commercial space has been leased by a Telekom subsidiary for several years. There are 37 underground and nine outdoor parking spaces for cars. The parties have agreed not to disclose the purchase price.
The Nymphenburg district, not far from the Olympiapark, offers traditional beer gardens, spacious parks and a large selection of restaurants. The popular nightlife district of Maxvorstadt is just a ten-minute bike ride away, and the major universities with over 85,000 enrolled students are within a radius of 3.5 kilometres.
Munich has over 130,000 students, of which around 26,000 come from abroad, and these numbers continue to rise. “In this city with its extreme housing shortage, we offer modern apartments with spacious common areas for both German and international students. The house management is preparing a smooth start for our international guests in this attractive city and offers numerous additional services for residents. We’re planning for additional apartments in Munich through the acquisition or conversion of hotels or old office buildings,” explains Michael Stapf, Chief Investment Officer of International Campus GmbH.
“In this challenging market environment, we’re delighted to have completed another one of our urban living projects,” said Tobias Sauerbier, Managing Director of SIGNA Real Estate. “It’s our second sale to International Campus in quick succession. Something like this can only be accomplished when there is a high level of trust between the respective parties.”
About SIGNA Real Estate
SIGNA Real Estate has been developing and managing exceptional real estate projects in central locations in Germany and Austria for over 20 years. An experienced team of real estate experts manages all activities from a project’s acquisition to its completion, and it meets the highest standards with regard to profitability, technology and sustainability. Reliability, fairness and completion on schedule are at the forefront of the team’s cooperation with project partners. These values make SIGNA a respected partner, and they are anchored in the philosophy of the company, which was founded by René Benko.
Its portfolio includes the KaDeWe and the Upper West Tower by the Gedächtniskirche in Berlin, the spectacular Elbtower highrise project in Hamburg’s HafenCity, the premium Alsterhaus department store in Hamburg and the Oberpollinger and the Karstadt development project near Munich’s central train station. In Austria, the outstanding portfolio properties include the premium Park Hyatt Vienna hotel and the Goldenes Quartier business district.
With these projects, SIGNA is making important contributions to the development of cities. SIGNA doesn’t just concentrate on individual properties; it reconceptualises topics such as inner city development, sustainability, variety of utilisations, networking and mobility. For liveable cities – for all of us.
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