Global Student Accommodation Group acquires five student housing properties from Harrison street
Global Student Accommodation Group (GSA) has acquired a student housing portfolio consisting of five student halls from its joint venture partner Harrison Street at a cost consideration of EUR 400 million (US$ 440.76 million).
The portfolio includes five student residence in Dublin city. The names of the properties are Ardcairn House, Kavanagh Court (2 phase), New Mill, The Tannery, and Broadstone Hall which hold 1,971-bed spaces cumulatively. These halls serve the Trinity College Dublin, the Royal College of Surgeons in Ireland, TU Dublin Grangegorman, and University College Dublin.
The average occupancy rate for properties is 97% and all properties except Kavanagh Court have been delivered. Kavanagh Court phase 2 is expected to be delivered in the first half of 2020. GSA will be responsible for the ongoing operations and investment management of five properties.
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