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Morgan Stanley Fund Enters Multibillion-Dollar Student Housing JV
Student housing owner Global Student Accommodation (GSA) has formed a multibillion-dollar joint venture partnership with a fund advised by Morgan Stanley Real Estate Investing (MSREI). With a focus on the U.S., the JV marks the beginning of a long-term relationship that will pursue strategic growth across the full spectrum of the student housing industry.
GSA brings $1.6 billion of initial seed assets to the JV, with close to 15,000 beds across 21 states and 29 cities. These properties include GSA’s existing US portfolio acquired in 2020, along with the recently closed acquisition of more than 8,100 beds across prime locations from coast to coast.
John Klopp, global head of real assets at MSREI, said, ‘We believe that the combination of MSREI’s broad real estate investing platform and GSA’s thoughtful, innovative approach to the sector will allow us to deliver attractive and differentiated exposure to our investors.”
Pictured: GSA’s 412 Lofts in Minneapolis.
- ◦Sale/Acquisition
- ◦Financing
