US: Bahrain-based GFH Partners has acquired a portfolio of US PBSA assets worth $300 million.
The assets have been added to GFH Partners’ US student housing platform, which now has more than 5,500 beds and assets under management, worth approximately $900 million.
The assets are currently 99 per cent occupied and are within walking distance to major public four-year universities, with enrolments exceeding 30,000 students per academic year.
These include two assets serving the University of North Texas (859 beds), an asset targeting student accommodation for the University of Kentucky (649 beds), and a development project within close proximity to the University of Tennessee set to deliver around 605 beds upon completion in 2026.
The three markets benefit from strong enrolment growth in their respective universities and have limited supply.
GFH Partners executed the transactions in partnership with SQ Asset Management, an Atlanta-based student housing operator with more than 15,000 beds under management; and Vesper Holdings, a New York-based operator with more than 30,000 beds under management.
GFH Partners CEO Nael Mustafa said: “These acquisitions build on our strong track record and proven capability in the student housing sector. The assets secured deliver attractive risk-return profile opportunities to our investors. We continue to see merit in deploying capital in this sector due to the demand-supply imbalances in leading, four-year public universities with strong research and/or sporting programs. Our partnerships with proven managers like SQ and Vesper are strategic and ensure best-in-class execution of our activities in this sector.”
