Micro-living specialist International Campus Group has acquired a student accommodation project development in Aachen from Signa Real Estate, which it will operate through its 'The Fizz' brand.
Financial details were not disclosed.
The 5,700 m2 property, comprising 165 apartments, was recently completed at completed at Kasernenstrasse 16, with apartment sizes varying between 18 and 32 m². The new building was handed over to International Campus shortly after and will thus be ready for the opening of the summer semester 2021.
Michael Stapf, chief investment officer at International Campus said: 'When it comes to university cities in particular, living space comes at a premium. We’re convinced that our new property in optimal locations in Aachen will enjoy high demand.
'Our new apartments, with communal areas for cooking, studying and sports activities, will be available in time for the 2021 summer semester. At The Fizz, students will also benefit from an active community, study rooms, a variety of other services and an infrastructure perfectly aimed at students.'
Tobias Sauerbier, managing director of Signa said: 'Student apartments continue to be coveted investments.
'Apartments tailored to the needs of students are in great demand, particularly with regard to strained housing markets like Aachen.'
At present, International Campus has more than 5,800 apartments in operation and under construction in Germany, Austria, the Czech Republic and the Netherlands, across its student living and professional living divisions. The company has offices in Berlin, Hamburg, Munich, Vienna, Amsterdam and Luxembourg and employs over 120 people.
