LONDON and CHARLESTON, SC-Greystar Real Estate Partners in partnership with Goldman Sachs, has entered into an agreement to purchase a portfolio of UK student housing assets out of the bankruptcy proceedings for the Opal Property Group. The agreement was signed in late September and the acquisition is expected to be completed by the end of October.

The portfolio comprises 21 assets mostly located in London, Manchester, Leeds and Liverpool and represents the first acquisition undertaken by Greystar in the UK.

“This transaction aligns perfectly with Greystar's strategy to acquire assets that, while fundamentally sound, will benefit greatly from our organization's track record of repositioning and improving assets in order to provide a superior living experience for our residents,” said Bob Faith, founder and CEO of Greystar. “While there will be minor operational differences between our US and European assets, we firmly believe the combination of well amenitized accommodations and best in class customer service is a very basic requirement, irrespective of geographic location or culture.”