FOX Living further expands PBSA pipeline and secures land for around 320 student apartments in Hanover's Weichenviertel

"With the property in the Weichenviertel, we have secured an attractive location for the further development of our portfolio in the field of student housing," says Mathias Grüning, Managing Director of FOX Living. "Hanover is one of the largest university locations in Germany and at the same time has an attractive economic environment and a high demand for modern student housing

With around 320 apartments, we want to create a modern residential offer here that meets the needs of students and other young target groups. We see an attractive long-term demand for modern stationery services in Germany. With Hanover, we are securing another strategic location in a German university market and are consistently continuing to build a scalable platform."

The acquisition is part of FOX Living's strategic platform and portfolio development in the area of Purpose Built Student Accommodation (PBSA). The company develops housing offers for national and international students, trainees and young professionals and wants to successively build up a portfolio of selected German university locations for this purpose. In the medium term, FOX Living aims to develop up to 1,000 apartments per year. With the projects in Braunschweig, Osnabrück and Hanover, FOX Living's communicated pipeline already includes several locations in German university markets with a total of approx. 1,000 units in implementation.

FOX Living is thus implementing the planned portfolio development step by step with concrete projects. In addition to new construction projects, the company is also examining the repurposing of suitable existing buildings.

FOX Living was legally advised on the transaction by the law firm Walch, Rittberg and Nagel.