- November 1, 2016: Vol. 8, No 10

To read this full article you need to be subscribed to Institutional Real Estate Asia Pacific

GIC buys UK student-housing portfolio

by Andrea Waitrovich

GIC, Singapore’s sovereign wealth fund, in partnership with UK-based Global Student Accommodation, has acquired a 7,150-bed UK student-housing portfolio from investment funds managed by Oaktree Capital Management.

The portfolio was built within the past three years and includes 3,634 operational beds across nine purpose-built student accommodation properties in six top university cities: Bristol, Cardiff, Edinburgh, Liverpool, London and Southampton. The deal also includes a pipeline of 3,516 beds in five cities — Birmingham, Bournemouth, Cambridge, Plymouth and Portsmouth — which GSA will rapidly bring online over the next 30 months.

The transaction is the United Kingdom’s largest student-housing deal thus far this year.

Separately, GSA has acquired a student-housing portfolio from Threesixty Developments, the operating platform of The Student Housing Co. The properties are fully leased for the 2016–2017 academic year. GSA will take over the full oper

Forgot your username or password?