GFH acquires US based student housing portfolio

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 in excess of US$ 1.4 billion

  
GFH acquires US based student housing portfolio

Manama: GFH Financial Group (“GFH” or “the Group”) today announced that it has signed to acquire a $100 million student housing portfolio affiliated to top rated universities located in the United States. The acquisition is in partnership with Student Quarters, an Atlanta based specialist asset manager, who is the sixth largest purchaser of student housing assets in the US and has completed transactions in the space with a total value in excess of US$ 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 of time and have large student populations in excess of 20,000.

Over the past year, the student housing market has remained a strong performing sector with approximately 90% average occupancy levels and nearly 100% rental collections, which are backed by parental guarantees. Given the increasing pace at which the US economy is recovering, with the vaccination drive successfully implemented, the prospects for the student housing sector have a positive outlook, making it the optimal environment for GFH to deploy capital in the sector.

The assets acquired include student housing buildings and facilities near the University of Arkansas, Florida State University and University of Tennessee. The assets are within walking distance of their respective affiliated universities and are fully amenitized having been designed specifically to cater to the needs of the modern student. They offer resort-style pools and sun decks, grilling stations, courtyards, coffee shops, study rooms and fitness centers. Unit layouts are generally one to four single bedrooms with private bathrooms.

Commenting, Mr. Awais Majeed, Executive Director Real Estate Investments at GFH, said, “As part of GFH’s growing real estate activities and investments, we’re delighted to initiate our investments in another strategic segment of the US real estate market, the student housing sector. This is another step in further building a diversified portfolio of well positioned, stabilized real estate assets. With scarce comparable supply in flagship universities and growing student enrolment numbers, we see strong  prospects for the sector, which we will work to leverage with  our partner, Student Quarters, who brings deep rooted knowledge of the US student housing market and an exceptional track record to support income and value generation for GFH and our shareholders.”

Ms. Stephanie J. Lynch, Chief Investment Officer of Student Quarters, added, “Student Quarters and GFH Financial Group are really excited to be purchasing these high-quality well-located assets in exceptional Power Five markets. These will be the first acquisitions for the new partnership, which will bring compelling investment opportunities and demonstrated results to GFH.”

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases