GMH Capital, AGC Equity form student housing acquisition and development partnership

Newtown Square, Pa.–based GMH Capital Partners has entered into an investment agreement with London-based AGC Equity Partners to acquire existing core and value-add student housing, and develop new purpose-built student housing properties across the United States.

AGC has raised funds from its previously established investors and GMH will be acting as the operating platform. It is a unique structure and a joint effort, said Gary Holloway Jr., president of GMH.

The fund has already broken ground on its first property, a 500-bed community located at California Polytechnic State University in San Luis Obispo. The partnership has two additional developments in California in its pipeline and is seeking to acquire core and value-add assets over the next 18 months. GMH’s student housing division, GMH University Housing, will manage the assets owned with AGC.

“We are targeting 70 percent core assets, and the balance is a mix of value-add and new construction,” s