“The business is too involved for many other banks”
The financing for the 37-million-euro project, which is based on a ten-year loan, is also custom-made. Co-investor Rieckmann: “HSH Nordbank understands not only the project financing business, but also knows the particularities that need to be considered for student housing. The business is too complicated or involved for many other banks.”
Woodie is a model for a market that has been growing for years. This is also due to the increasing number of foreign students who, not least, appreciate that the public universities in this country do not charge tuition fees. In total, the number of students in Germany recently climbed to a record high at about 2.8 million.
Peter Axmann sees even more reasons for keen interest in micro-apartments: “Not only students and apprentices but also singles and professionals who commute home on the weekend are looking for small apartments in metropolises. The demand is therefore high, and the supply is by no means sufficient.”
All-around packages for students
Woodie provides all the services students expect today. Co-investor Rieckmann knows from experience that the most important thing is fast Internet. That is why a 100 Mbit connection was laid. Usage is included in the warm rent, of course. In the “Woodietorium”, which is the communal lounge, the students can communicate with one another. There are also a DHL package station, 400 bicycle parking spots, 20 car parking spots, and a “laundry lounge”. A nearby car sharing provider completes the offer. “Woodie offers an all-round package with an ecologically clean conscience,” says HSH Nordbank Real Estate Manager Axmann.