International Campus has acquired the student apartment building THE FIZZ in Bremen. The building has been operated by IC since 2012 and served as a pilot project for THE FIZZ brand. Extending over 13,000m² GFA, the building divides into 335 student apartments, various community areas as well as 32 parking spots in the underground car park. In conjunction with the acquisition, a new design and service concept will be implemented. To this end, the community spaces of the building will be completely renovated and the apartment equipment upgraded. The seller is Württembergische Lebensversicherung AG. The two parties have agreed not to disclose the purchase price.
“Things are coming full circle for us – the apartment building in Bremen was the first International Campus asset that began operating under the brand THE FIZZ in 2012. The acquisition further strengthens our own portfolio and we plan to acquire additional properties, which are currently under our operation,” said Gawain Smart, CEO of International Campus.
Michael Stapf, the CIO of International Campus, added: “In the course of the acquisition, we are improving the student living and social experience by implementing our new concept for the community spaces. Student housing has evolved in recent years and we are creating a long-term perspective for International Campus with the new concept. In addition, we are bringing forward some planned maintenance work, among others in the flats, to position the building for the future. Buying the building in Bremen was a natural step for us to take. After all, it checks all the boxes for our houses: It is located in direct proximity to the University and conveniently connected to the downtown via public transport. Our residents are within easy reach of their classrooms and of the city’s leisure and cultural amenities at the same time.”