Global Student Accommodation Group (GSA) announced today the acquisition of 27 US based properties from UCAL, the joint venture with University Communities LLC and the California State Teachers Retirement Fund. The portfolio features more than 8,000 student housing beds across 19 cities and 18 states, including District Flats near the University of Missouri; Carriage House near Drexel University and the University of Pennsylvania; Catalyst near Florida State University; and The Landing Apartments near the University of Utah.
TSB Capital Advisors brokered the transaction.
In addition to the assets, GSA also acquired the property management company, UComm, and has entered a forward arrangement with University Communities to work together in partnership on acquiring and developing future student housing properties in the US.
For more information, read the full release here.