IC sells two student residences

International Campus AG sells two student residences to Württembergische Lebensversicherung AG and signs long-term general tenancy agreements

• Property “THE FIZZ Bremen” and project develo­p­ment “THE FIZZFreiburg Mitte” sold to insti­tu­tional investor
• Both proper­ties have a total of around 680 apart­ments
• Imple­men­ta­tion of the strategy of selling proper­ties from the portfolio to insti­tu­tional inves­tors and conti­nuing opera­tions under the brand THE FIZZ for the new owners

Inter­na­tional Campus AG has sold two student residences from the “German Student Housing Fund Inter­na­tional Campus Student Housing I S.C.A.” based in Luxem­bourg to Württem­ber­gi­sche Lebens­ver­si­che­rung AG and concluded long-term general tenancy agree­ments for both proper­ties with the new owner. The fully occupied property “THE FIZZ Bremen”, which opened in 2012 directly opposite the Univer­sity of Bremen, and the project develo­p­ment “THE FIZZ Freiburg Mitte” on Habsburger Strasse in the centre of Freiburg have a total of around 680 single and double apart­ments. Construc­tion on “THE FIZZ Freiburg Mitte” is set to start in the first half of 2017; the archi­tect is Magnus Kaminiarz & Cie. Both student residences are operated under the brand THE FIZZ. It has been agreed not to disclose the purchase price.

Horst Lieder, Chairman of the Board of Inter­na­tional Campus AG: “We have gained Württem­ber­gi­sche Lebens­ver­si­che­rung AG as a renowned, long-standing partner who is as convinced as we are of the long-term success of the asset class of student housing.” Lieder conti­nues: “With this transac­tion and the conclu­sion of two general tenancy agree­ments, we are consis­t­ently pursuing the existing IC strategy.

For the first time, we are meeting insti­tu­tional inves­tors’ high level of interest in