Dutch pension fund manager APG to increase stake in European student accommodation and hotel group
Singaporean sovereign wealth group GIC and Dutch pension fund manager APG will take a majority stake in The Student Hotel in a deal that values the European student accommodation and hotel group at €2.1bn.
Singapore’s GIC is already one of the most active investors in student housing in Europe. Last month, GIC and Greystar Real Estate Partners acquired Student Roost, a UK student housing provider from Brookfield for £3.3bn. The portfolio spans more than 50 properties with over 23,000 beds across UK university cities.
During the pandemic, TSH increased room allocation towards students when leisure and corporate travel was significantly reduced, which helped support occupancy rates and remaining cash flows.
Read more: FT
