International Campus acquires THE FIZZ in Bremen
- Student apartment block has been operated by International Campus since 2012 under the THE FIZZ brand
- Implementation of new design and service concept is planned with investments in community spaces and apartments
- The seller is Württembergische Lebensversicherung AG
International Campus (“IC”), a leading investor, developer and operator of concepts for student living and urban living in Europe, has acquired the student apartment building THE FIZZ in Bremen. The building has been operated by IC since 2012 and served as pilot project for the THE FIZZ brand. Extending over 13,000 square metres GFA, the building divides into 335 student apartments, various community areas as well as 32 parking spots in the underground car park. In conjunction with the acquisition, a new design and service concept will be implemented. To this end, the community spaces of the building will be completely renovated and the apartment equipment upgraded. The seller is Württembergische Lebensversicherung AG. The two parties have agreed not to disclose the selling price.
“Things are coming full circle for us – the apartment building in Bremen was the first International Campus asset that began operating under the brand THE FIZZ in 2012. The acquisition further strengthens our own portfolio and we plan to acquire additional properties, which are currently under our operation,” said Gawain Smart, CEO of International Campus. “
Michael Stapf, the CIO of International Campus, added: “In the course of the acquisition, we are improving the student living and social experience by implementing our new concept for the community spaces. Student housing has evolved in recent years and we are creating a long-term perspective for International Campus with the new concept. In addition, we are bringing forward some planned maintenance work, among others in the flats, to position the building for the future. Buying the building in Bremen was a natural step for us to take. After all, it checks all the boxes for our houses: It is located in direct proximity to the University and conveniently connected to the downtown via public transport. Our residents are within easy reach of their classrooms and of the city’s leisure and cultural amenities at the same time.”
The University of Bremen has a total enrolment of around 19,000 students (as of the winter semester 2021/2022) while also employing around 3,600 campus staff (as of 2020). With its population of around 560,000 residents, Bremen is one of the biggest cities in northern Germany, second only to Hamburg. It has a vibrant cultural scene as well as a large number of bars, pubs and restaurants. In addition, the city is home to two UNESCO World Cultural Heritage items, one being Bremen town hall, the other the Roland statue.