GSA in €400m deal for five Dublin student residences
The UK-headquartered Global Student Accommodation Group (GSA) has acquired a portfolio of Dublin student residences from its joint venture partner, Harrison Street, in a deal valued at €400 million.
GSA has assumed ownership of Harrison’s interest in five properties in Dublin city centre. The buildings comprise 1,971 bed spaces and include Ardcairn House, Kavanagh Court, New Mill, The Tannery, and Broadstone Hall, all of which primarily serve students at Trinity College Dublin, the Royal College of Surgeons in Ireland, TU Dublin Grangegorman, and University College Dublin.
The properties within the portfolio have an average occupancy rate of 97 per cent and all properties have been delivered to date with the exception of Kavanagh Court Phase II, which is expected to be completed in the first half of 2020 …