IC Netherlands, a Dutch subsidiary of the German student housing specialist International Campus, has launched two new student residences in Amsterdam.
These comprise the Zeeburgereiland property with 364 student apartments, and the NDSM property with 380 apartments.
'We are delighted to have already completed and opened the first two Amsterdam student residences Zeeburgereiland and NDSM as planned. Three further apartment buildings are expected to be completed by mid-2017,' said Wouter van den Eijnden, managing partner of IC Netherlands.
He added: 'We raised around €144 mln from Dutch institutional investors for the ‘Dutch Student Housing and Young Professional Fund’. The preliminary investment objective is 5,000 apartments in the Netherlands. We have an attractive pipeline and continue to intensively review suitable project developments and existing properties for acquisition, for example in Amsterdam and other major cities.'
The three properties under construction comprise the Lelylaan with 590 student apartments, Laan van Spartaan with 361 apartments and an additional residence in Lelylaan with 279 apartments for young professionals.
IC noted that in 2015, more than 480,000 students were in higher education in the Netherlands.
'Our subsidiary IC Netherlands plays a major role in the international strategy of International Campus. The Dutch institutional capital raised is evidence of investors’ high level of confidence in the investment strategy. With around 2,000 apartments completed or under construction and a pipeline of another 3,000 apartments, IC Netherlands is an ambitious investor and project developer for student and young professional apartments in the Netherlands,' commented Horst Lieder, CEO of International Campus AG.
In Germany, International Campus is currently operating or creating around 5,200 apartments at 13 locations, including Berlin, Frankfurt am Main and Hamburg.
