Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the sale of iQ Student Accommodation to Blackstone for €5.22 billion ($5.7 billion). The transaction was announced in February.
“With student numbers in the United Kingdom at an all-time high, and growth set to continue in the coming years, there has never been a more exciting time to be a leading player in the student accommodation sector,” said Rob Roger, CEO of iQ Student Accommodation.
The transaction is the largest-ever private real estate transaction in the United Kingdom and subject to regulatory approvals. iQ is one of the United Kingdom’s leading providers of purpose-built student accommodation. It was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016.
The company owns and manages more than
