Publications

Transactions - JANUARY 4, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

GIC JV buys $1.4b student housing platform

by Andrea Waitrovich

InvenTrust Properties Corp. has agreed to sell its student housing platform to a joint venture formed between Canada Pension Plan Investment Board, Singapore’s GIC and Scion Group. The joint venture’s subsidiary, UHC Acquisition Sub, will acquire InvenTrust’s student housing platform, University House Communities Group, for $1.4 billion. The portfolio comprises 18 student housing assets and four under development totaling nearly 13,000 beds near universities across the United States.

Through the joint venture, known as Scion Student Communities, CPPIB and GIC will each own a 47.5 percent stake in the student housing platform, while Scion Group will hold a 5 percent stake.

Under the terms of the purchase agreement, the final net proceeds will be determined at the closing of the transaction, following the determination of several events and closing considerations. The transaction is expected to close in mid-2016, subject to certain closing cond

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy