A Morgan Stanley Real Estate Investing fund and Global Student Accommodation have announced a joint venture partnership focused on student housing.
GSA is contributing $1.6 billion of initial seed assets to the JV, with close to 15,000 beds across 21 states and 29 cities. These properties include GSA's existing US portfolio acquired in 2020, along with the recently closed acquisition of more than 8,100 beds across prime locations from coast to coast. Together, nearly two-thirds of the portfolio are at prestigious Power Five schools.
"Since entering the US market, GSA has been deliberate in executing its growth strategy, proven by our most recent acquisition, enabling us to seed this partnership with a sizable and highly attractive portfolio," GSA Chair Alec Burger said in prepared remarks.
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