Bahrain’s GFH acquires $300mn US student housing portfolio

By Shilpa Annie Joseph, Desk Reporter
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Bahrain-based leading financial group, GFH Financial Group has acquired a $300 million student housing portfolio affiliated to selected top-rated universities located in Texas, Michigan, and Missouri in the United States (US).

The acquisition is in partnership with GFH subsidiary Student Quarters, an Atlanta-based student housing specialist.

The five assets acquired include facilities near Texas A&M University, Michigan State University, and Missouri State University.

The Group said in a statement that the portfolio has more than 2,000 beds with assets located within walking distance of their respective affiliated universities. They are relatively new and include amenities designed specifically to cater to student needs such as swimming pools, courtyards, coffee shops, study lounges, clubhouses, game rooms, and fitness centers.

Nael Mustafa
Nael Mustafa
Co-Chief Investment Officer

“As part of GFH’s growing real estate activities, we are delighted to continue our investment in the student housing sector, which is experiencing positive momentum given the rise in US university enrollment, the growing US population and scarcity of class-A pedestrian, purpose-built assets. Our subsidiary Student Quarters also gives GFH and our shareholders a tremendous edge in this sector supporting value creation, alignment of interest and pure focus on achieving the targeted returns for GFH and its investors. They have an exceptional track record and experience and continuously rank among the top 25 student housing asset managers in the US.”

GFH’s investment strategy in the student housing sector focuses on building a diversified portfolio that targets universities within the top public 150 universities in the US, which are considered flagship universities in their respective states.

“We are excited to be growing our portfolio by purchasing these high-quality, well-located assets in exceptional markets that are within close proximity to top-tier universities. We look forward to continuing to deliver compelling investment opportunities and demonstrate results,” noted Ms. Stephanie Lynch, Chief Investment Officer of Student Quarters.

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