Hamburg Commercial Bank finances purchase of five student residences for International Campus Group
Hamburg Commercial Bank (HCOB) is providing financing of EUR 160 million to International Campus Group for the purchase of five student residences with a total of 1,870 apartments.
Four of the five apartment buildings for students are located in Germany, namely in Berlin, Darmstadt, Frankfurt am Main and Hanover, and the fifth in the Austrian capital Vienna. The properties are around 98 percent leased and in attractive locations for students. The International Campus Group, which specializes in high-quality residential and service concepts, rents out the fully furnished apartments with own shower room and kitchenette as well as extensive common areas to international and national students under the “THE FIZZ” brand.
THE FIZZ Hannover © International Campus
Founded in 2011, International Campus Group is an investor, developer and operator of student and urban living concepts. “THE FIZZ” serves the needs of students, while “HAVENS LIVING” is tailored to the needs of professionals. In 2018, a real estate fund managed by Canadian asset manager Brookfield acquired a majority stake in International Campus Group.
“The International Campus Group is a successful real estate company that sets standards in the extremely interesting segment of student housing. We are very pleased that, together with our long-standing client, we have succeeded in realizing this cross-border financing in a very short time,” said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. “The five buildings in the real estate portfolio are all in attractive locations in metropolitan and university cities that have further growth potential. The buildings already have very good sustainability ratings, which can be further improved through targeted measures.”
THE FIZZ Vienna Brigittenau © International Campus
“With Hamburg Commercial Bank, we have a long-standing financing partner who is very familiar with the student housing sub-segment. We are pleased with the quick execution and disbursement of this complex, cross-border transaction,” said Matthias Hautli, responsible Senior Transaction Manager for the project at International Campus Group. “The five properties have very good building qualities and established residential and service concepts. The occupancy rate of almost 98 percent shows the high demand on site and the sustainability of the locations.”
Legal advice for the financing was provided on the client side by White & Case LLP with the team led by Dr. Sébastien Seele. Hamburg Commercial Bank was advised by Taylor Wessing with the team of Dr. Jens Wiesner and Dr. Peter Seemann.
About International Campus Group:
Founded in 2011, International Campus Group is one of Europe’s largest developers and operators of student as well as urban living and residential concepts. “The FIZZ” caters to the needs of students, while “HAVENS LIVING” is primarily tailored to the needs of working professionals. Our schemes offer modern, fully furnished personalized living spaces in central locations, professional house management, core services along with lively and liveable residential communities for medium and long-term stays. At the moment, around 7,400 apartments are in operation and under development in Germany, Austria, the Czech Republic and the Netherlands. The company, which maintains offices in Berlin, Munich, Hamburg, Vienna, Amsterdam and Luxembourg, employs around 150 professionals.
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