German partners set up student resi joint venture

International Campus AG, the operator of - and investor in - innovative student residences in Germany, has announced it will develop high-quality student residences together with the Berlin family business and real-estate investment group Gädeke & Sons. The joint venture will operate under the trademark The Fizz and aims to have completed the first two apartment houses in Bayreuth and Berlin by the end of 2013.

The joint investment volume for both residential buildings will amount to approximately EUR 35 mln. The plots of land have already been purchased and the financing of the building costs has been secured. In total, the partners are planning about 220 quality-fitted student apartments in Berlin with an average size of around 21 m² and around 320 apartments in Bayreuth. The monthly all-in rent ranges from EUR 395-495.

'With Gädeke & Sons we have found a capital-intensive partner with whom we have taken a giant step towards achieving our target of operating and partly co-investing in the purchase of altogether 20 modern student residences in Germany over the next five years,' said Horst Lieder, CEO of International Campus AG.

Gädeke & Sons and International Campus intend to further develop their partnership over the next months and further plots of land are currently being considered for purchase.

Gädeke & Sons has been involved in high-quality building projects for 40 years. Projects include shopping centres, hotel properties and office blocks. In 1989 the Gruppe Gädeke & Sons developed one of the first design hotels worldwide - the art`otel on the 'Kudamm' in Berlin. In total it has developed assets for other hotel chains with a total value of more than EUR 2 bn.

Together with issuing house Kapitalpartner GmbH, International Campus AG is also creating The Fizz Bremen - high-quality residences for a total of 345 students in Bremen involving an investment volume of around EUR 20 mln. The halls of residence on the central university campus are being built on a 5,000 m² site and are expected to be completed by the 2012/2013 winter semester. They will offer 327 individual apartments and nine double apartments. Rents will start about EUR 395 per month for an individual apartment including utilities and flat-rate internet.


International Campus AG
International Campus AG, Munich, is a developer, co-investor and operator of innovative student housing in Germany. It focuses on cities with rapidly growing markets for high-quality student residences. Thanks to a unique standard of quality, attractive branding and comprehensive service, all apartment blocks lend a new dimension to student housing and life. Its aim is to become one the leading operator of fully equipped, high-quality student residences with a high service standard within five years. The management of International Campus AG has many years of experience in the fields of development, property management, asset management and investments.