The International Campus Group (IC) has completed a portfolio financing of approximately €313 million ($365 million). The loan secures the mid-term financing of seven properties from the portfolio of the The FIZZ brand (student housing) and two properties of the HAVENS LIVING brand (apartments for professionals).
The financing partners are BNP Paribas and Société Générale. The financing has an initial term of two years, with three extension options of one year each.
International Campus was legally advised on the transaction by Gibson Dunn, Greenberg Traurig and Stibbe Advocats. Other parties involved included EY (tax), CBRE (valuation and technical due diligence) and Marsh McLennan (insurance due diligence).
“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,” said Patrick Hanisch,
