We are very pleased to announce that in the UK’s largest Student Accommodation transaction of 2016 to date, GSA Investment Management and GSA Coral have partnered with the Singapore sovereign wealth fund GIC to acquire a portfolio of 7,150 UK student beds from Oaktree Capital. The deal underlines the continued demand from blue-chip institutions seeking to access this sector, and the unique position of GSA Coral in being able to invest alongside some of the world’s leading institutions.
This is a very high quality portfolio of assets all built within the last three years. It includes 3,634 operational beds located in six top university cities: Liverpool, Bristol, London, Edinburgh, Cardiff and Southampton. The deal also includes a pipeline of 3,516 beds in a further five cities: Plymouth, Portsmouth, Birmingham, Bournemouth and Cambridge, which will be brought on stream over the next 30 months.
This transaction continues to build on GSA Coral’s strategy to capitalise on global investment opportunities and further diversify the portfolio in key target markets. The strength of the GSA Group’s underwriting and risk management has been used to form an extremely high quality partnership, that also positions GSA Coral for future growth and strong returns.
Alongside Harrison Street Real Estate earlier this year, this is the second UK institutional partnership in which GSA Coral is now an investor. We look forward to continuing that success in other markets globally as GSA Coral continues to grow and take advantage of these unique opportunities.
Some of the extensive press coverage of the transaction is available here and we look forward to bringing all investors further information on the portfolio in our forthcoming GSA Coral newsletter. In the wide media coverage, the GSA and GIC deal was announced, detailing the portfolio which includes prime properties in leading UK university cities.