International Campus is buying an apartments project in Germany from Grundkontor Projekt for an undisclosed amount
The developer and operator of student and urban living concepts in Europe said it has agreed to buy the Wendenstrasse apartment scheme in Hamburgβs Hammerbrook district.
The scheme will provide for about 700 apartments (with 476 beds for students and 329 beds for working professionals) as well as extensive community areas.
Rainer NonnengΓ€sser, executive chairman of International Campus, said the original office building from the 1970s that occupied the site on Wendenstrasse has been demolished and βwe are now moving ahead with the foundation works and intend to have the scheme completed and open for occupancy by 2024β.
Michael Stapf, CIO of International Campus, said: βWendenquartier in Hamburg will be ICβs second major location in the port city after Stresemannquartier.β
Romeo Uhlmann, managing director and owner of Grundkontor Projekt, said: βIn International Campus, we have found an accomplished partner for our Hamburg Wendenquartier scheme who is also familiar with large-volume project developments.
βWe have many years of experience with student housing and urban living concepts and know-how important attractive property brands and professional operation are.β
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