Capital investment in high-quality apartments for students and young professionals
January 2017 – Allianz Real Estate invests in an investment fund created by International Campus AG (IC). Allianz is the primary investor together with another large investment association. The target volume of the fund is € 1bn. MMI GmbH is a founding member and shareholder of International Campus AG.
The fund called “FIZZ Student Housing Fund S.C.S.” is designed as a long-term property investment vehicle. The aim of the fund is to gain value through the lease of existing apartments and the development and lease of further high-quality residential facilities for students and young professionals. The initial portfolio consists of four fully leased existing properties with more than 1,200 apartments in Berlin, Darmstadt, Frankfurt and Hanover. The fund is also acquiring four ongoing project developments with more than 1,600 apartments in Aachen, Frankfurt, Hamburg and Cologne. Preparations are underway for the acquisition of further properties for the fund.
Financial experts rate the student housing sector as an attractive growth market with high development potential. According to Oliver Téran, CIO of Allianz Real Estate, International Campus AG is an ideal partner who has impressively demonstrated its high competence in the acquisition, development and operation of high-quality residential properties in recent years.
The newly launched fund is open to other institutional investors. The target volume is around 15,000 rented apartments by the end of 2020.
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