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GIC—Singapore’s sovereign wealth fund—and Dubai-based GSA bought a portfolio of UK student housing projects from Oaktree Capital Management.
The sale includes nine buildings that will accommodate 1,750 beds; it is the largest UK student accommodation transaction this year, according to Bloomberg.
The portfolio sold for about £700M. GIC Real Estate’s Madeleine Cosgrave said the assets are all near university campuses and city centres.
The portfolio includes assets in Liverpool, Bristol, London, Edinburgh, Cardiff and Southampton.
The deal also includes a pipeline of beds in Plymouth, Portsmouth, Birmingham, Bournemouth and Cambridge. [Bloomberg]
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