APG, Blackstone, Scape to buy FTSE 250-listed GCP Student Living
A consortium, backed by Dutch pension fund manager APG and Blackstone, has made a £969m
(€1.1m) offer for FTSE 250-listed GCP Student Living.
Gemini Jersey JV, a new company created by APG-backed Scape Living and Blackstone’s UK student
housing platform iQ, is offering GCP shareholders 213p for each share held, an amount which
represents a 30.7% premium to GCP’s share closing price on 1 July — the last business day before the
commencement of the offer period.
GCP currently has a £1.13bn portfolio of 11 assets located primarily in London and the South East …