FU.Life Group and GDI German Development Investors have signed a strategic framework agreement providing for the construction of more than 3,000 student apartments across Germany. This collaboration comes in light of a significant supply gap in the German student housing market. With almost three million students in Germany and constant demand exceeding the existing supply, a deficit of over 200,000 student beds is estimated. The partnership aims to establish a scalable portfolio for student accommodation, encompassing institutional project development, long-term operation, and the enhancement of the living experience and sense of community for students. FU.Life's 'House of Co.' brand is to be further expanded in this context.
The framework agreement includes the realisation of approximately 15 to 20 projects nationwide and reflects both companies' long-term motivation to contribute to solving the challenges in student housing. The initial projects are already in the implementation phase. Currently, 541 units are secured and under development. These include 158 contractually fixed units in Düsseldorf (Dorotheenstraße 90–92), 131 units in Cologne (Stammheimerring 17), and over 250 further units in Stuttgart and Münster. Additionally, further construction projects, for example in Essen, are being actively pursued.
Within the framework of the cooperation, GDI, a project developer based in Düsseldorf and operating nationwide, will handle the acquisition and development of the land. FU.Life will conclude the long-term residential general lease agreements and operate the properties under its 'House of Co.' brand. Most projects are to be realised using modular construction and in accordance with German KfW-40 energy efficiency standards. Mathias Düsterdick, owner and managing director of GDI German Development Investors, emphasised that the student housing market in Germany represents an attractive and resilient real estate segment and constitutes a central strategic growth area for GDI. He expressed the expectation to expand joint activities beyond the projects already identified.
Georg Haider, founder and managing partner of FU.Life, highlighted that the partnership with GDI is based on trust, entrepreneurial thinking, and a shared long-term vision. He is convinced that the combination of GDI's development expertise with FU.Life's operational capabilities creates significant added value for cities, investors, and residents. Eyal Gicelter, also a founder and managing partner of FU.Life, affirmed the assessment that student housing will continue to be one of the most promising opportunities in the European real estate market, as demand continues to grow and the supply of high-quality accommodation remains limited in many university cities.
GDI received real estate law advice from Dr. Lars Kölling, partner at Rotthege Düsseldorf, and Dr. Wolfgang Scholl, partner at Arnecke Sibeth Dabelstein in Frankfurt. FU.Life received legal advice from Tobias Gries, partner at K&L Gates LLP in Berlin. The financing structure was designed by TreeCap Partners, headquartered in Bad Homburg with international offices in London.
