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GFH acquires $300m student housing portfolio in US

GFH acquires $300m student housing portfolio in US
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Mubasher: GFH Financial Group has acquired a $300 million student housing portfolio, affiliated to top-rated universities located in Texas, Michigan, and Missouri in the US.

Acquired in partnership with GFH subsidiary, Student Quarters, the five assets include facilities near Texas A&M University, Michigan State University, and Missouri State University, according to a press release on Wednesday.

The student housing sector has witnessed strong performance throughout and following the Covid lockdowns, with an average stable occupancy rate above 90%.

The Co-Chief Investment Officer – Real Estate at GFH, Nael Mustafa, said: "Our subsidiary Student Quarters also gives GFH and our shareholders a tremendous edge in this sector supporting value creation, alignment of interest, and pure focus on achieving the targeted returns for GFH and its investors."

Meanwhile, the Chief Investment Officer of Student Quarters, Stephanie Lynch, commented: "We are excited to be growing our portfolio by purchasing these high-quality, well-located assets in exceptional markets that are within close proximity to top-tier universities."

It is noteworthy to mention that in May 2022, the company signed an agreement to acquire a majority stake in the US-headquartered SQ Company, an asset and property manager that focuses on student housing.