GFH buys $300 million student housing portfolio

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group announced its acquisition of a $300 million student housing portfolio to select top-rated universities located in Texas, Michigan and Missouri in the United States. The acquisition is in partnership with GFH subsidiary Student Quarters, an Atlanta-based student housing specialist.

The five assets acquired include facilities near Texas A&M University, Michigan State University and Missouri State University.

The portfolio has more than 2,000 beds with assets located within walking distance of their respective affiliated universities. They are relatively new and include amenities designed specifically to cater to student needs such as swimming pools, courtyards, coffee shops, study lounges, clubhouses, game rooms and fitness centers.

“As part of GFHs growing real estate activities, we are delighted to continue our investment in the student housing sector, which is experiencing positive momentum given the rise in US university enrollment, the growing US population and scarcity of class-A pedestrian, purpose-built assets,” Nael Mustafa, Co-Chief Investment Officer – Real Estate at GFH, said.