GIC, GREYSTAR CLEARED TO BUY UK STUDENT HOUSING PROVIDER
A UK regulator has cleared the proposed acquisition of Student Roost by Singapore sovereign wealth fund GIC and US developer Greystar after the deal was investigated over concerns that it could reduce competition among student housing players in one of Britain’s key markets.
The Competition and Markets Authority had been looking into the potential for the deal to cut competition among student accommodation providers in Birmingham, where the Greystar-GIC joint venture already has significant holdings, potentially resulting in higher prices and lower-quality services for students.
To resolve the issue, the Greystar-GIC JV has agreed to sell one or both of Student Roost’s two Birmingham properties, The Heights and The Old Fire Station, which have a combined 1,392 beds …