Global Student Accommodation (GSA) and Nuveen Real Estate, on behalf of its parent company TIAA, announced the completion of the acquisition of the YouFirst Campus portfolio from Gecina, for approximately €540 million ($632 million).
The portfolio comprises more than 3,700 beds, with an 80 percent weighting to Paris. Other assets are located close to leading universities in Bordeaux, Lille, Lyon and Marseille.
The joint venture will capitalize on these compelling sector fundamentals and deploy GSA’s track record of entering new markets and expertise in asset and investment management, to realize accretive capital value opportunities.
"Completing the acquisition of the YouFirst Campus portfolio and entering a new market for GSA is a step forward in achieving our broader strategic growth plans across the leading educational cities in Europe,” said James Hunt, global head of real estate at Global Student Accommodation. “We are excited to make our mark in Fr
