Student housing and micro-apartments operator International Campus (IC) has acquired €230m worth of properties in Germany from Capital Bay.
The Brookfield-backed company said has bought 777 micro-apartments in Hamburg branded as THE FIZZ and HVNS, and a new building with 344 student apartments in Freiburg branded as THE FIZZ.
The Hamburg property, located on Stresemannstraße, and the Freiburg asset, located in Freiburg Mitte, were developed and already being operated through IC’s development and operation platforms.
Gawain Smart, CEO of International Campus, said: “Our team leads the acquisition, development, letting and management of student projects in Europe.
“This reflects the strength of the IC platform in finding, developing and bringing to full occupancy excellent student and professional living properties that are not otherwise readily accessible.”
Rainer Nonnengässer, executive chairman of International Campus, said: “As one of the leading developers and operators of temporary housing concepts in Northern Europe, we aim to build our own attractive property portfolio.
“Our growth strategy also includes acquiring some of the buildings that are still third-party financed but already operated by us.”
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