The path to growth


International Campus AG: On the path to growth! 

Dear Rea­ders, 

We hope you had a good start to the New Year and were able to end 2014 on a rela­xing note. The last year was a very suc­cessful year for Inter­na­tio­nal Cam­pus AG. We ope­ned two new stu­dent resi­den­ces, THE FIZZ+ Frei­burg and THE FIZZ Ber­lin, and won three new attrac­ti­ve pro­jects in Aachen, Frei­burg II and in Co-logne for THE FIZZ Basic. With the Dutch mar­ket lea­der DUWO Sticht­ing as the ope­ra­ting part­ner, we invest with IC Net­her­lands B.V. into stu­dent accom­mo­da­ti­ons in the Net­her­lands. 

With the foun­ding of “Con­sul­ting Cum Lau­de” we bridged the gap bet­ween our core busi­ness, stu­dent accom­mo­da­ti­on, and hybrid advi­so­ry / mar­ket rese­arch ser­vices. Like the “Star Alli-ance” in the air­line indus­try, “Net­work Cum Lau­de” is an inter­na-tio­nal coope­ra­ti­on plat­form of lea­ding stu­dent housing ope­ra­tors and uni­ver­si­ties. New­ly we expan­ded our mana­ge-ment team with the UK stu­dent housing expert James Gran­ger who will over­see ope­ra­ti­ons. 

The cour­se is set for growth in 2015. We will open three new stu­dent resi­den­ces in 2015 alo­ne, THE FIZZ Frank­furt I, THE FIZZ Han­no­ver and THE FIZZ Darm­stadt, and mana­ge around ten loca­ti­ons with more than 3,000 apart­ments. Fur­ther­mo­re our pipe­line includes 20 new THE FIZZ loca­ti­ons with around 8,000 apart­ments. Our main objec­ti­ve in future: Appe­al­ing resi-den­ti­al pro­po­sals for the stu­dents and attrac­ti­ve returns for our inves­tors. 

A suc­cessful year 2015, 

Horst Lie­der 

CEO Inter­na­tio­nal Cam­pus AG

International Campus: our student residences 

Resi­den­ces in ope­ra­ti­on 

THE FIZZ Bre­men on the Uni­ver­si­ty of Bre­men cam­pus was Inter­na-tio­nal Cam­pus AG’s first stu­dent resi­dence in Ger­ma­ny. It ope­ned around two years ago and com-pri­ses more than 336 high-qua­li­ty sin­gle and dou­ble room apart-ments with a kit­chenet­te and a show­er bath. The three-part build-ing com­plex has a con­cier­ge ser-vice, two semi­nar rooms and a com­mu­nal kit­chen. 

In Octo­ber 2014, THE FIZZ Ber­lin ope­ned in very cen­tral Ber­lin-Mit­te. The stu­dent resi­dence was deve­lo­ped in a 50:50 joint ven­ture with the group Gäde­ke & Sons. The 212 apart­ments have 21 squa­re met­res on avera­ge and a bath­room and kit­chenet­te. The spe­cial fea­tures of the com­plex next to the Spree river include a lounge in the laun­dry room and spa­cious coo­king are­as. 

THE FIZZ+ Frei­burg ope­ned in au-tumn last year. The resi­dence in the popu­lar Zäh­rin­gen dis­trict of Frei­burg is built accor­ding to the low-ener­gy-stan­dard “Frei­bur­ger Effi­zi­enz­haus 60” and com­pri­ses a total of 149 high-qua­li­ty sin­gle and two-room apart­ments. They were sold to pri­va­te inves­tors and the users and are excep­tio­nal­ly lar­ge at 24 to 38 squa­re met­res. 

Pro­jects in com­ple­ti­on 

In 2015, Inter­na­tio­nal Cam­pus AG will open three new stu­dent resi-den­ces. THE FIZZ Frank­furt I in Gal-lus will be the first. All 382 high-qua­li­ty apart­ments in the con­vert-ed office buil­ding are ful­ly fur-nis­hed with a desk, bed, cup­boards and a kit­chenet­te.

THE FIZZ Han­no­ver with 303 sin-gle and two-room apart­ments in Hanover´s cen­tral Nord­stadt dis-trict will be com­ple­ted by mid-2015. The ful­ly fur­nis­hed apart-ments will have around 22 squa­re met­res on avera­ge and a con­cier­ge ser­vice will ensu­re the com­fort and safe­ty of the stu­dents – as in all THE FIZZ resi-den­ces. 

THE FIZZ Darm­stadt is due to be com­ple­ted at the end of 2015. The pro­per­ty in the city cent­re con­sists of both new and old buil­dings total­ling some 340 apart­ments with an avera­ge of 21 squa­re met­res. 

Plan­ned resi­den­ces 

In addi­ti­on to the stu­dent resi-den­ces which are alre­a­dy in op-era­ti­on, the­re are also seve­ral plan­ned stu­dent housing pro-jects: in Ham­burg and Aachen, and addi­tio­nal pro­per­ties in Frank­furt, Frei­burg and – the first THE FIZZ Basic – in Colo­gne. THE FIZZ Basic is a new sub-brand of Inter­na­tio­nal Cam­pus that com­bi­nes an attrac­ti­ve stu-dent accom­mo­da­ti­on with lower ren­tal pri­ces. The apart­ments are a bit smal­ler, ful­ly fur­nis­hed and coming with a modern bath-room. An own kit­chenet­te is not part of the apart­ment – ins­tead of that you can find gene­rous com­mu­nal kit­chens with inte-gra­ted loun­ges on each flo­or. 

Our pipe­line 

Curr­ent­ly we are also in nego­tia-tions for new stu­dent resi­den­ces in every important Ger­man uni-ver­si­ty city: e.g. Aachen, Ber­lin, Bonn, Frank­furt, Ham­burg, Co-logne, Mainz and Munich. The fol­lo­wing cri­te­ria are essen­ti­al: pro­xi­mi­ty to the uni­ver­si­ty and to the city cent­re, the repu­ta­ti­on of the uni­ver­si­ty and the situa-tion at the resi­den­ti­al mar­ket.

THE FIZZ student residences in Germany
‍THE FIZZ stu­dent resi­den­ces in Ger­ma­ny

In Focus: Frankfurt am Main 

Frank­furt am Main, the city of high-rise buil­dings, short dis-tances – and ple­nty of stu­dents. Last 2014/15 win­ter semes­ter, more than 60,000 stu­dents were enrol­led at the Goe­the Uni­ver­si­ty, Frank­furt School of Finan­ce and other uni­ver­si­ties. The Stu­den­ten­werk Frank­furt am Main offers just 2,400 beds in 18 dif­fe­rent loca­ti­ons. Halls of resi­den­ces fun­ded by the church or other cha­ri­ta­ble orga­ni­sa-tions account for ano­ther 3,000 places and the­re are around 1,000 pri­va­te apart­ments in the city. The Frank­furt Stu­den­ten-werk pro­vi­des accom­mo­da­ti­on for just over 3 per­cent of the stu­dent popu­la­ti­on. 

Posi­ti­ve out­look 

Over the last five years, avera­ge rents increased by around 25 per­cent in Frank­furt. In 2014, the metro­po­lis crossed the thres­hold of 700,000 inha­bit-ants – and the popu­la­ti­on is ex-pec­ted to grow to up to 735,000 by 2030. Accor­ding to the City Invest­ment Index (CIII) of the inter­na­tio­nal con­sul­ting com­pa-ny JLL, Frank­furt ranks no. 8 in the world in terms of size and attrac­ti­ve­ness. In 2012, more than 1.5 mil­li­on peo­p­le visi­ted the trade fairs in Frank­furt. Even though around 22,000 new apart­ments were built bet­ween 2003 and 2012 and resi­den­ti­al space was appro­ved in 2014 to an ext­ent not seen in 50 years, the housing mar­ket is likely to remain dif­fi­cult for years to come. Howe­ver, the high vacan-cy rate of almost 10 per­cent for office buil­dings bears enorm­ous poten­ti­al in terms of con­ver­si­on into stu­dent accom­mo­da­ti­on.

Three questions for Roman Diehl about Network Cum Laude: 

What is the objec­ti­ve of the net­work? 

Inter­na­tio­nal Cam­pus estab-lished the coope­ra­ti­on plat­form “Net­work Cum Lau­de” with the part­ner DUWO, the Dutch mar-ket lea­der that mana­ges more than 27,000 stu­dent rooms. The objec­ti­ve of NCL is to pro­mo­te and expand resi­den­ti­al and ser-vice pro­po­sals for inter­na­tio­nal stu­dents – throug­hout Euro­pe. 

What do the part­ners gain by this? 

The coope­ra­ti­on plat­form offers part­ners like lea­ding stu­dent resi­dence and uni­ver­si­ty ope­ra-tors and ser­vice pro­vi­ders the oppor­tu­ni­ty to bund­le their strengths and ser­vices for the stu­dents‘ bene­fit. The key ad-van­ta­ges are e.g. impro­ved ca-paci­ty uti­li­sa­ti­on at the respec­ti­ve loca­ti­ons, eco­no­mi-cal­ly opti­mi­sed pro­ces­ses, a tar-get-ori­en­ted mar­ket approach, grea­ter inter­na­tio­nal mobi­li­ty and a more inten­si­ve exch­an­ge of know­ledge at all ope­ra­ting and stra­te­gic levels. This ine­vi-tab­ly impro­ves access to inves-tors. 

And the plans of Net­work Cum Lau­de for the future? 

We want to gra­du­al­ly deve­lop NCL into an online mar­ket­place for the “stu­dent life­cy­cle” and are alre­a­dy in advan­ced nego­ti-ati­ons with major natio­nal play-ers in dif­fe­rent important count­ries. Hig­her edu­ca­ti­on is an exci­ting inter­na­tio­nal mar­ket and we are loo­king for­ward to the upco­ming dis­cus­sions!


2.7 mil­li­on stu­dents 

At the end of 2014, the Fede­ral Sta­tis­ti­cal Office (Sta­tis­ti­sches Bun­des­amt) announ­ced that al-most 2.7 mil­li­on stu­dents were enrol­led in Ger­man uni­ver­si­ties in the 2014/2015 win­ter semes-ter. The ratio of new stu­dents was 57.3 per­cent, of which 50.1 per­cent were women. 

Fre­quent relo­ca­ti­ons 

On behalf of EY (form­er­ly Ernst & Young), mar­ket rese­arch insti­tu­ti­on Rese­arch Now sur-vey­ed 4,300 stu­dents on their future place of work. In the old fede­ral sta­tes, 37 per­cent of tho­se sur­vey­ed expec­ted to re-loca­te after com­ple­ting their stu­dies and in the new sta­tes the figu­re was 40 per­cent. Stu­dents in Bava­ria, Baden-Würt­tem­berg and North Rhi­ne-West­pha­lia had the hig­hest care­er expec­ta­ti­ons. 

Bava­ria increa­ses grants 

The fede­ral sta­te Bava­ria again increased its finan­cial sup­port for stu­dent accom­mo­da­ti­on. The maxi­mum finan­cing amount per stu­dent apart­ment is EUR 32,000.

Excel­lent pro­s­pects for 

stu­dent accom­mo­da­ti­on 

In a recent stu­dy, bul­wi­en­ge­sa rated 68 Ger­man cities with more than 7,000 stu­dents in terms of pro­fi­ta­bi­li­ty. Accor­ding to the stu­dy, at least 30 uni­ver­si-ty cities have an attrac­ti­ve risk return pro­fi­le and good invest-ment oppor­tu­ni­ties. Munich comes in at num­ber 1, fol­lo­wed by Colo­gne, Ber­lin, Frank­furt am Main, Han­no­ver and Bonn. The top 30 also includes Darm­stadt, Ham­burg, Bre­men, Ulm, Karls-ruhe, Frei­burg, Kon­stanz and Aa-chen. 

28,000 more stu­dent 

apart­ments nee­ded in NL 

Accor­ding to esti­ma­tes, an addi-tio­nal 28,000 stu­dent apart-ments will be nee­ded in the Net­her­lands by 2020. In the North Sea coast regi­on, around 660,000 stu­dents are regis­tered at 13 sta­te uni­ver­si­ties and 38 tech­ni­cal uni­ver­si­ties (as at the end of 2012). The­re are a total of 3.2 mil­li­on ren­tal apart­ments in the Net­her­lands.

500,000 more inha­bi­tants 

Bet­ween 2000 and 2014, around half a mil­li­on peo­p­le in Ger­ma­ny moved to the cities Ham­burg, Munich, Frank­furt, Stutt­gart and Ber­lin. 

Posi­ti­ve deve­lo­p­ment in 

regio­nal real estate 

In a stu­dy for Post­bank, the de-velo­p­ment in real estate pri­ces until 2015 was exami­ned in all 402 Ger­man dis­tricts and urban dis­tricts. In most regi­ons, the con­di­ti­ons for buy­ing hou­ses and apart­ments are favoura­ble. Po-ten­ti­al pri­ce increa­ses are ex-pec­ted in nine dis­tricts in Bava­ria and Baden-Würt­tem­berg, espe-cial­ly in Munich and the sur-roun­ding area. The fore­casts for Müns­ter, Dres­den, Jena and Ber-lin are also posi­ti­ve. 

“High­ly attrac­ti­ve” mar­ket 

The cur­rent EY Real Estate trend baro­me­ter shows that 45 per­cent of the real estate inves­tors sur-vey­ed regard­ed Ger­ma­ny as “high­ly attrac­ti­ve”. One of the main reasons was the hig­her pri­ces for resi­den­ti­al real estate.  

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