Global Student Accommodation (GSA) has closed four financing facilities in the United States, totaling $550 million.
The facilities —with Pacific Life Insurance Co.; J.P. Morgan and TD Bank; PGIM Real Estate; and PNC Agency Finance, which provided access to Freddie Mac financing — were finalized in fourth quarter 2022. They cover more than two-thirds of GSA’s U.S. student housing portfolio, which is held in a joint venture partnership with a fund advised by Morgan Stanley Real Estate Investing (MSREI).
“I am delighted to start 2023 having secured these financing facilities with new lending partners,” said John Jacobs, global head of capital markets at GSA. “The ability to close the transactions in the current economic climate is testament to the strength of the joint venture, reflecting its ability to develop new and deep relationships with lenders, and the stability of the underlying portfolio. This also highlights the robust characteristics of the studen
