IC Netherlands opens two student residences in Amsterdam and plans the completion of three further properties by mid-2017
- Around 2,000 apartments completed or under construction in the Netherlands
- Capital of €144 million raised from institutional investors
- IC Netherlands is the seed investor of the “Dutch Student Housing and Young Professional Fund”
- Further property acquisitions are planned
IC Netherlands, a Dutch subsidiary of the German student housing specialist International Campus AG, has already completed and opened two student residences: the Zeeburgereiland property with 364 student apartments and the NDSM property with 380 apartments close to Nederlandsche Scheepsbouw Maatschappij, which was once Europe’s largest shipyard. Three properties are currently being constructed: Lelylaan with 590 student apartments, Laan van Spartaan with 361 apartments and an additional residence in Lelylaan with 279 apartments for young professionals. These five apartment buildings in Amsterdam are owned by the “Dutch Student Housing and Young Professional Fund”, for which around €144 million was raised from Dutch institutional investors. IC Netherlands acted as the seed investor for the fund. Further property acquisitions are planned.
Wouter van den Eijnden, Managing Partner of IC Netherlands: “We are delighted to have already completed and opened the first two Amsterdam student residences Zeeburgereiland and NDSM as planned. Three further apartment buildings are expected to be completed by mid-2017.” Van den Eijnden explains: “We raised around €144 million from Dutch institutional investors for the ‘Dutch Student Housing and Young Professional Fund’. The preliminary investment objective is 5,000 apartments in the Netherlands. We have an attractive pipeline and continue to intensively review suitable project developments and existing properties for acquisition for example in Amsterdam and other major cities.”
In 2015, more than 480,000 students were in higher education in the Netherlands.
Horst Lieder, CEO of International Campus AG: “Our subsidiary IC Netherlands plays a major role in the international strategy of International Campus. The Dutch institutional capital raised is evidence of investors’ high level of confidence in the investment strategy. With around 2,000 apartments completed or under construction and a pipeline of another 3,000 apartments, IC Netherlands is an ambitious investor and project developer for student and young professional apartments in the Netherlands.”
In Germany, International Campus AG is currently operating or creating around 5,200 apartments at 13 locations, including Berlin, Frankfurt am Main and Hamburg.