International Campus is buying an apartments project in Germany from Grundkontor Projekt for an undisclosed amount
The developer and operator of student and urban living concepts in Europe said it has agreed to buy the Wendenstrasse apartment scheme in Hamburg’s Hammerbrook district.
The scheme will provide for about 700 apartments (with 476 beds for students and 329 beds for working professionals) as well as extensive community areas.
Rainer Nonnengässer, executive chairman of International Campus, said the original office building from the 1970s that occupied the site on Wendenstrasse has been demolished and “we are now moving ahead with the foundation works and intend to have the scheme completed and open for occupancy by 2024”.
Michael Stapf, CIO of International Campus, said: “Wendenquartier in Hamburg will be IC’s second major location in the port city after Stresemannquartier.”
Romeo Uhlmann, managing director and owner of Grundkontor Projekt, said: “In International Campus, we have found an accomplished partner for our Hamburg Wendenquartier scheme who is also familiar with large-volume project developments.
“We have many years of experience with student housing and urban living concepts and know-how important attractive property brands and professional operation are.”
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