GIC partners GSA to acquire UK student dorm portfolio from Oaktree

SINGAPORE (Sept 29): GIC, Singapore’s sovereign wealth fund, is partnering GSA, the global student accommodation leader, to acquire a 7,150-bed UK student accommodation portfolio from funds managed by Oaktree Capital Management, L.P.

The transaction is the UK’s largest student accommodation deal so far this year, say the partners in a joint announcement. According to Bloomberg, the properties were expected to sell for about 430 million pounds ($762
million), Property Week reported earlier. A spokeswoman for GSA, which owns student housing provider Uninest, declined to comment on the sale price, the agency added.

Built within the last three years, the portfolio includes 3,634 operational beds across nine purpose-built student accommodation properties located in six top university cities: Liverpool, Bristol, London, Edinburgh, Cardiff and Southampton.

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