A joint venture between the European Student Housing Fund (70%) and operator The Student Hotel group (30%) has announced the start of construction on its 30,000 m2 project in Berlin's Alexanderquartier.
The project, valued in the high double-digit million euro range, includes the turnkey construction of a new nine-storey Student Hotel and office building with underground car park. The hotel will provide 475 student apartments and hotel rooms while the office section will occupy 8,300 m2.
Zueblin is the general contractor.
The Student Hotel will operate the hotel element while the European Student Housing Fund is responsible for the office space which will be let to co-working company WeWork. The project - the first in Berlin by the student housing group - is due for completion in August 2019.
'With the laying of the foundation stone, we have reached an important milestone, on schedule. On behalf of the European Student Housing Fund, Zueblin has already completed the turnkey construction of 263 new student apartments in Potsdam-Golm and we are now looking forward to realising the Alexanderquartier as well,' said Torsten Teichgräber, technical manager of the Zueblin Business Unit Thüringen.
The Student Hotel is a developer, investor and operator with a portfolio of 4,392 rooms in 10 hotel locations including: Rotterdam, Amsterdam (2 locations: City and West), The Hague, Groningen, Eindhoven, Maastricht, TSH Campus in Barcelona and as The Student Hotel Paris in France.
The group plans to have 41 properties (17,550 rooms) in the major European cities by 2021.