GFH buys US-based student housing portfolio
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
GFH Financial Group announced signing a deal to acquire a $100 million student housing portfolio affiliated with top-rated universities located in the United States.
The acquisition is in partnership with Student Quarters, an Atlanta based specialist asset manager, who is the sixth-largest purchaser of student housing assets in the US and has completed transactions in the space with a total value above US$ 1.4 billion.
GFH’s investment strategy in student housing assets is based on building a diversified portfolio that targets universities within the top 150 universities in the US and that are considered flagship universities in their respective states with strong sporting and academic facilities. These universities have steady growth in enrolments over long periods and have large student populations of over 20,000.
The assets acquired include student housing buildings and facilities near the University of Arkansas, Florida State University and the University of Tennessee. Commenting, Awais Majeed, Executive Director Real Estate Investments at GFH, said, “This is another step in further building a diversified portfolio of well-positioned, stabilised real estate assets.” Stephanie J. Lynch, Chief Investment Officer of Student Quarters, added, “These will be the first acquisitions for the new partnership, which will bring compelling investment opportunities and demonstrated results to GFH.”