Global Student Accommodation (GSA) and Harrison Street have bought two purpose-built student accommodation (PBSA) assets in Bristol, UK.
The joint venture partners have paid an undisclosed amount to buy the Print Hall and Unity Street residences from a UK Pension Fund, with HSBC providing bank debt for the acquisition.
Print Hall and Unity Street are adjacent student residences with a combined 500 beds. Print Hall opened in 2017, and Unity Street opened in 2019. The properties will be operated by GSA.
James Hunt, MD, real estate, of GSA, said: 鈥淭his transaction expands GSA鈥檚 footprint in Bristol to support the city鈥檚 strong and growing student market.
鈥淲e are now home to over 800 of the University of Bristol鈥檚 students, and I am delighted to strengthen our existing ties with the University, one of the UK鈥檚 leading academic institutions.鈥�
Rob Mathias, partner and head of international business for Harrison Street, said: 鈥淭his transaction is consistent with Harrison Street鈥檚 approach of investing in high-quality PBSA assets in strong European markets. Bristol is a great university townhome to more than 46,000 students, with an additional 3,500 expected in 2023 following the University of Bristol鈥檚 planned expansion.鈥�
GSA and Harrison Street began their partnership in December 2015 and have since acquired 27 properties accounting for over 8,600 beds across the UK, Ireland and Spain.
To read the digital edition of the latest 91传媒在线 magazine click
