ICG completes €313m refinancing for German portfolio

International Campus Group (ICG), a leading investor, developer, owner, and operator in student housing and urban living, has completed a €313 mln portfolio refinancing.

International Campus Group

The loan secures mid-term financing for nine assets in Germany: seven properties under The Fizz Europe brand (student housing) and two properties under the Havens Living brand (urban apartments for professionals).
BNP Paribas and Société Générale are the financing partners. The financing has an initial term of two years, with three one-year extension options.
Gibson Dunn, Greenberg Traurig, and Stibbe Advocats provided legal advice to International Campus on the transaction. EY (Tax), CBRE (Valuation & Technical Due Diligence), and Marsh McLennan (Insurance Due Diligence) were also involved.
Patrick Hanisch, CFO of the International Campus Group, said: “Together with our financing partners, we have achieved an important milestone in a challenging environment. The completed refinancing provides flexibility and planning security for the further development of our portfolio. This strengthens our position as a long-term owner and operator of high-quality living solutions for students and young professionals.”
ICG specializes in acquiring, developing, and managing living spaces tailored for students and young professionals. The company operates in Germany, Austria, the Netherlands, and the Czech Republic, with over 5,000 apartments accommodating residents from around the world. 
The Fizz is currently available in Aachen, Berlin, Bremen, Darmstadt, Frankfurt/Main, Freiburg, Hamburg, Hanover, Munich, Prague, Utrecht, and Vienna. Havens Living currently operates in Hamburg with 214 apartments, with planned expansions in Frankfurt (Spring 2024), Berlin, and Hamburg within the next two years. ICG has approximately 2,500 units in planning or under construction.