IC expands into CEE

International Campus expands into CEE and acquires project development in Prague

• Modern residen­tial building “THE FIZZ Prague” offers 529 apart­ments for students with 71 under­ground parking spaces
• Joint venture with Czech project developer Karlín Group
• Opening scheduled for Q1 2020

Inter­na­tional Campus AG, a specia­list in micro-living products, is conti­nuing its growth in Europe and expan­ding into the Czech Republic. In a joint venture with the Czech project developer Karlín Group, Inter­na­tional Campus has acquired a project develo­p­ment in the Holešo­vice district of Prague with 529 high-quality apart­ments for students. It has been agreed not to disclose the purchase price. The building that is to become “THE FIZZ Prague” will have a gross floor area above ground level of 16,529 square metres over eight floors. The opening is planned for the first quarter 2020.

Inter­na­tional Campus and Karlín Group each hold 50 percent in the joint venture. On comple­tion of the property by Karlín Group, Inter­na­tional Campus will acquire its partner’s share of the joint venture and place the property in a dedicated special fund for insti­tu­tional inves­tors.

Horst Lieder, CEO of Inter­na­tional Campus AG, said: “Our first acqui­si­tion in Prague sees us conti­nuing our European expan­sion at a rapid pace. This is our first step to the Czech Republic, and we are taking it together with our expert local partner. Together, we intend to create 2,500 attrac­tive apart­ments for students in Prague in the medium term. We are also in the process of acqui­ring additional proper­ties in

Central and Central Eastern European hot spots.”