International: IC Netherlands Thinks Big in Amsterdam
- Jun 11, 2015
By Adriana Pop, Associate Editor
IC Netherlands, a subsidiary of German student housing specialist International Campus AG, has acquired a student residence project in the eastern part of Amsterdam from local property developer Van Wijnen B.V.
Construction on the seven-story, 364-unit complex located on IJburglaan, in the capital city’s new Zeeburgereiland district, is already underway. The property, which will be managed by DUWO, is scheduled for completion in July 2016.
The project is the first of five student housing properties IC Netherlands is planning to develop in the country, which has an attractive housing market.
“The student residence in Zeeburgereiland is our first real estate project in the Netherlands and is part of a separate portfolio for the country. In the Netherlands, International Campus focuses on financing and developing student accommodation in highly attractive locations. Our primary tenant and partner DUWO will be responsible for the management of the property,” Horst Lieder, chairman of the Board of International Campus AG, said in a prepared statement.
International Campus AG is currently developing and operating more than 3,000 student housing units in eleven locations throughout Germany. The company is also investing in a portfolio comprising about 2,000 student apartments via IC Netherlands B.V. in the Netherlands. As of the end of 2012, the country had more than 650,000 students at 51 universities and institutes of technology.
DUWO, a civil-society organization based in Delft, owns more than 27,000 apartments, which makes it the leading provider of student housing in the Netherlands. It is a foundation under public law and its predecessor “SDSH” was founded in 1945. The company has decades of experience in the operation, development and management of student apartment buildings and now owns numerous properties in the Hague, Delft, Leiden and Amsterdam.