Student and urban living investor, developer and operator International Campus (IC) acquired €670 mln of properties in 2021, and opening five new schemes.
The deals included six development projects, one each in the German cities of Berlin, Freiburg, Hamburg (two schemes), Ludwigshafen/Mannheim and in the Dutch city of Leiden. In addition, the firm opened five properties in Aachen, Freiburg, Hamburg, Munich and Utrecht, respectively, while the first location of the new HVNS residential brand for working professionals launched in Hamburg.
The Fizz in Utrecht marked the opening of IC's first scheme in the Netherlands. The firm now has 13 assets in total, with six in operation and seven under development.
Rainer Nonnengässer, executive chairman of IC, said: 'The six acquisitions with an investment volume of around €670 mln in 2021 illustrate how wide the spectrum is of eligible investments for International Campus.
'We typically develop and build ourselves or alternatively purchase projects from developers via forward deals. Rather than limiting our reach to big cities, we also like smaller cities with thriving universities for our student living format.'
Michael Stapf, chief investment officer of IC, added: 'We will continue to look for suitable projects in Germany, the Netherlands, Austria and the Czech Republic. After acquiring 2,900 beds in 2021, our goal is to add 2,500 to 3,000 beds annually to our portfolio over the coming years.'
Added Nonnengässer: 'Over the past 20 years, the number of full-time students in Germany has gone up steadily, by more than 50 percent in the years since 2008 alone. The number of working professionals looking for a pragmatic temporary place to stay is also growing steadily.'
