International Campus launches refurbishment program

• Fol­low-on invest­ments of 16 mil­li­on euros
• Imple­men­ta­ti­on of moder­niza­ti­on and refur­bish­ment mea­su­res in six pro­per­ties to com­ple­te by win­ter semes­ter 2023 / 2024
• Pro­gram pro­mi­ses sta­te-of-the-art apart­ment and com­mu­ni­ty space, impro­ved look-and-feel and fur­ther value-add impro­ve­ments

Inter­na­tio­nal Cam­pus Group, one of the lea­ding inves­tors, deve­lo­pers, port­fo­lio hol­ders and ope­ra­tors in the stu­dent housing and urban living sec­tor in Cen­tral Euro­pe, is laun­ching a major moder­niza­ti­on and refur­bish­ment pro­gram for six ful­ly-lea­sed apart­ment buil­dings com­pri­sing 2,200 resi­den­ti­al units, which were acqui­red by the resi­den­ti­al housing pro­vi­der in the last six months. The capex pro­gram for the THE FIZZ loca­ti­ons in Ber­lin-Kreuz­berg, Bre­men, Darm­stadt, Frank­furt-Gal­lus, Hano­ver and Vien­na-Bri­git­ten­au includes the design and struc­tu­ral moder­niza­ti­on and refur­bish­ment of the com­mon are­as and stu­dent apart­ments. The pro­ject will be imple­men­ted in stages and lar­ge­ly com­ple­ted by the start of the 2023 / 2024 win­ter semes­ter. Inter­na­tio­nal Cam­pus is inves­t­ing appro­xi­m­ate­ly 16 mil­li­on euros to the upgrades.

“With this repo­si­tio­ning, Inter­na­tio­nal Cam­pus is inves­t­ing in sta­te-of-the-art upgrades to impro­ve the attrac­ti­ve­ness and value of the assets. Stu­dent housing in Ger­ma­ny and Aus­tria con­ti­nues to matu­re and impro­ve and the­se pro­per­ties, among­st the first in the mar­ket, are begin­ning to show their coll­ec­ti­ve age,” said Gawain Smart, CEO of Inter­na­tio­nal Cam­pus. “We’­ve taken a hard look at all the buil­dings in our port­fo­lio and are taking steps to bring older pro­per­ties up to con­tem­po­ra­ry, high-qua­li­ty stan­dards: fresh lay­outs, dura­ble finis­hes, intui­ti­ve inte­ri­or zoning, new ser­vices like digi­tal­ly boo­ka­ble ren­tal items, and depen­ding on loca­ti­on, gyms and more space for com­fort and socia­li­zing.”

Inter­na­tio­nal Cam­pus was foun­ded in 2011. The Inter­na­tio­nal Cam­pus Group port­fo­lio curr­ent­ly com­pri­ses more than 5,200 resi­den­ti­al units in ope­ra­ti­on and appro­xi­m­ate­ly 2,500 units under con­s­truc­tion and plan­ning in four Euro­pean count­ries. Ear­lier this year, Inter­na­tio­nal Cam­pus acqui­red five pro­per­ties alre­a­dy mana­ged under the THE FIZZ brand in Ber­lin (Köpe­ni­cker Stra­ße), Darm­stadt (Schöf­fer­stra­ße), Frank­furt am Main (Main­zer Land­stra­ße), Hano­ver (Am Kläp­per­berg) and Vien­na (Dresd­ner Stra­ße). The resi­dence in Bre­men was the first pro­per­ty ever to be ope­ned under the THE FIZZ brand in 2012 and has been ope­ra­ted by Inter­na­tio­nal Cam­pus sin­ce and was added to the com­pany’s own balan­ce sheet at the end of 2022.