International Campus Group which specialises in temporary living accommodation for students and professionals has promoted former chief executive officer Rainer Nonnengässer to executive chairman, a new role, and brought on board former Oxford Properties MD Gawain Smart to replace him as CEO.
Nonnengässer said, “as executive chairman I will continue to focus on executing the company‘s growth ambitions to build a leading student housing and micro-living platform across Europe.”
Smart, who for over a year has been advising IC and its majority shareholder Brookfield said, “the opportunity for student housing and micro-living in continental Europe has never been stronger and I look forward to working with Rainer to progress the company to the next stage.”
International Campus Group has over 5,800 apartments in operation and development and is active in Germany, Austria, Netherlands and the Czech Republic.
The company currently has a pipeline of more than 5,000 beds and plans to increase its portfolio to over 10,000 beds by 2023 in student cities and locations across Germany, Austria and the Netherlands, entailing investment of €1 billion.