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