Global Student Accommodation (GSA) has completed the acquisition of a portfolio of five premium assets from Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets.
The portfolio comprises three assets in Austin; one in Flagstaff, Ariz.; and one in Charleston, S.C. The transaction adds more than 1,600 beds to GSA’s U.S. portfolio, which has grown to encompass 46 assets across 23 states in less than two years.
The transaction gives GSA access to the new market of Charleston, which is rapidly becoming a tech hub and has seen its labor pool grow three times faster than the U.S. average since 2010. This growth is also reflected in student applications to the College of Charleston, which have increased 29.1 percent. Located in a prime location, in close proximity to the College of Charleston, Sterling Campus expands GSA’s foothold in the Carolinas.
The Austin properties are complementary to the recently acqui