Investments of 670 million euros


International Campus acquires 670 million euros worth of assets in 2021 and continues to source new locations for 2022

  • Six acqui­si­ti­ons in 2021 with a cumu­la­ti­ve invest­ment volu­me of 670 mil­li­on euros
  • Five new sche­mes up and run­ning
  • First loca­ti­on of the new HVNS brand for working pro­fes­sio­nals ope­ned
  • 500 mil­li­on euros of acqui­si­ti­on volu­me plan­ned for 2022

Inter­na­tio­nal Cam­pus (“IC”), a lea­ding inves­tor, deve­lo­per and ope­ra­tor of con­cepts for stu­dent and urban living in Euro­pe, has expan­ded its port­fo­lio to 13 assets in 2021. Of the­se, six pro­per­ties are alre­a­dy in ope­ra­ti­on and the remai­ning seven pro­per­ties are under deve­lo­p­ment or in con­s­truc­tion. As a result, the com­pa­ny has taken a big step clo­ser to its goal of incre­asing the size of its port­fo­lio to over one bil­li­on euros. In the past year, Inter­na­tio­nal Cam­pus acqui­red a total of six deve­lo­p­ment pro­jects, one each in the Ger­man cities of Ber­lin, Frei­burg, Ham­burg (two sche­mes), Ludwigshafen/Mannheim and in the Dutch city of Lei­den. In addi­ti­on, five pro­per­ties assu­med ope­ra­ti­on in Aachen, Frei­burg, Ham­burg, Munich and Utrecht, respec­tively, while the first loca­ti­on of the new HVNS resi­den­ti­al brand for working pro­fes­sio­nals ope­ned for busi­ness in Ham­burg. With THE FIZZ in Utrecht, Inter­na­tio­nal Cam­pus ope­ned its first sche­me in the Net­her­lands.

THE FIZZ in Utrecht, Net­her­lands © IC

“The six acqui­si­ti­ons with an invest­ment volu­me of around 670 mil­li­on euros in 2021 illus­tra­te how wide the spec­trum is of eli­gi­ble invest­ments for Inter­na­tio­nal Cam­pus: We typi­cal­ly deve­lop and build our­sel­ves or alter­na­tively purcha­se pro­jects from deve­lo­pers via for­ward deals. We will look at near­ly com­ple­ted or ope­ra­tio­nal sche­mes for urban living and run a port­fo­lio check. Rather than limi­ting our reach to big cities, we also like smal­ler cities with thri­ving uni­ver­si­ties for our stu­dent living for­mat,” said Rai­ner Non­nen­gäs­ser, Exe­cu­ti­ve Chair­man of IC. “One area we are incre­asing­ly inte­res­ted in is the inte­gra­ti­on into neigh­bour­hood deve­lo­p­ments. A case stu­dy is the new sche­me in Lud­wigs­ha­fen, which will be part of the plan­ned Lud­wigs-Quar­tier. We also review older office buil­dings that no lon­ger meet today’s user requi­re­ments or ESG cri­te­ria in terms of con­ver­si­on poten­ti­al.”

Micha­el Stapf, Chief Invest­ment Offi­cer of IC, added: “Inter­na­tio­nal Cam­pus invests on its own balan­ce sheet to keep gro­wing. Out of the sum total of 1.3 bil­li­on euros worth of pro­per­ties that chan­ged hands on Germany’s stu­dent housing and micro-apart­ment mar­ket last year, Inter­na­tio­nal Cam­pus secu­red assets in a value of c. 600 mil­li­on euros. In 2022, we want to invest a fur­ther 500 mil­li­on euros in new pro­per­ties and deve­lo­p­ments for both of our brands, THE FIZZ and HVNS. In the Net­her­lands alo­ne, we have around 1,500 addi­tio­nal resi­den­ti­al units in the pipe­line. We will con­ti­nue to look for sui­ta­ble pro­jects in Ger­ma­ny, the Net­her­lands, Aus­tria and the Czech Repu­blic. After acqui­ring 2,900 beds in 2021, our goal is to add 2,500 to 3,000 beds annu­al­ly to our port­fo­lio over the coming years.”

“We star­ted off 2021 by going live with our first pro­per­ty under the new HVNS brand in Ham­burg, effec­tively moving into ano­ther seg­ment of the urban housing mar­ket. This is a resi­den­ti­al for­mat rela­tively new in Ger­ma­ny but com­mon and gro­wing in the UK and US mar­kets and in the Net­her­lands,” noted Gawain Smart, CEO of IC. “Our living and ser­vice con­cept HVNS is aimed at the major Dutch and Ger­man metro­po­li­ses with strong labour mar­ket mobi­li­ty and a strong demand for com­for­ta­ble, fur­nis­hed and ful­ly equip­ped resi­den­ti­al accom­mo­da­ti­on.”

Inter­na­tio­nal Cam­pus is hel­ping to meet the enorm­ous demand for apart­ments through its rapid expan­si­on. Stu­dent accom­mo­da­ti­on is in short sup­p­ly in most cam­pus towns. “Over the past 20 years, the num­ber of full-time stu­dents in Ger­ma­ny has gone up ste­adi­ly, by more than 50 per­cent in the years sin­ce 2008 alo­ne. The num­ber of working pro­fes­sio­nals loo­king for a prag­ma­tic tem­po­ra­ry place to stay is also gro­wing ste­adi­ly,” added Rai­ner Non­nen­gäs­ser.

The fact is reflec­ted not least on the tran­sac­tions mar­ket for stu­dent flats and micro-apart­ments in Ger­ma­ny, as it grew by 111 per­cent to 1.3 bil­li­on euros bet­ween 2020 and 2021, accor­ding to CBRE, and ther­eby reco­ver­ed from the “Covid-19 shock.” CBRE also repor­ted that Germany’s “Big Seven” cities accoun­ted for 60 per­cent of the tran­sac­tion volu­me, with prime yields drop­ping to around 3.4 per­cent.

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