Financial details were not disclosed. The property was purchased from Württembergische Lebensversicherung.

The building has been operated by IC since 2012 and served as pilot project for the The Fizz brand. Extending over 13,000 m2 gross floor area, the building divides into 335 student apartments, varoius community areas as well as 32 parking spots in the underground car park.

'Things are coming full circle for us – the apartment building in Bremen was the first International Campus asset that began operating under the brand The Fizz in 2012. The acquisition further strengthens our own portfolio and we plan to acquire additional properties, which are currently under our operation,' said Gawain Smart, CEO of International Campus.

In conjunction with the acquisition, a new design and service concept will be implemented. To this end, the community spaces of the building will be completely renovated and the apartment equipment upgraded.

Michael Stapf, CIO of International Campus, added:'In the course of the acquisition, we are improving the student living and social experience by implementing our new concept for the community spaces. Student housing has evolved in recent years and we are creating a long-term perspective for International Campus with the new concept.

'In addition, we are bringing forward some planned maintenance work, among others in the flats, to position the building for the future.'

The University of Bremen has a total enrolment of around 19,000 students (as of the winter semester 2021/2022) and also employs around 3,600 campus staff (as of 2020).