Signa has sold a project development for student apartments in Aachen, Germany, to the International Campus Group (IC). A total of 165 apartments on a gross floor area of around 5,700m² were recently completed at Kasernenstrasse 16 in Aachen, with apartment sizes varying between 18 and 32m². The new building was handed over to International Campus a few days ago and thus in time for the opening of the summer semester 2021. The purchase price was not disclosed.
“Student apartments continue to be coveted investments,” said Tobias Sauerbier, Managing Director of SIGNA Real Estate. “Apartments tailored to the needs of students are in great demand, particularly with regard to strained housing markets like Aachen.”
“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,” explained Michael Stapf, Chief Investment Officer of the International Campus Group.