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

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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

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