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GFH acquires $100m student housing portfolio in US

GFH acquires $100m student housing portfolio in US
The transaction was completed in partnership with Student Quarters
GFH
GFH
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Dubai – Mubasher: GFH Financial Group has inked an agreement to acquire a $100 million student housing portfolio, affiliated to top-rated universities in the US.

The transaction was completed in partnership with Student Quarters, an Atlanta-based specialist asset manager and the sixth-largest purchaser of student housing assets in the US, according to a press release on Sunday.

GFH’s investment in student housing assets is in line with its objective to build a diversified portfolio that targets the top 150 universities in the US.

Within walking distance of their affiliated universities, the acquired assets include student housing buildings and facilities near the University of Arkansas, Florida State University, and the University of Tennessee.

Over the past year, the student housing market has recorded around 90% average occupancy levels and nearly 100% rental collections, which are supported by parental guarantees.

The Executive Director Real Estate Investments at GFH, Awais Majeed, said: "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."

Meanwhile, the Chief Investment Officer of Student Quarters, Stephanie J. Lynch, commented: "These will be the first acquisitions for the new partnership, which will bring compelling investment opportunities and demonstrated results to GFH."