Greystar and Goldman Sachs Complete 21-Property U.K. Acquisition

London — The transaction closed on Oct. 23.

London — Greystar Real Estate Partners and Goldman Sachs have closed a transaction to acquire a portfolio of student housing assets in the United Kingdom. The portfolio comprises 21 assets principally located in London, Manchester, Leeds and Liverpool and represents the first acquisition undertaken by Greystar in the U.K.

 


The portfolio was acquired out of bankruptcy administration proceedings for the Opal Property Group. The 21 student assets contain more than 6,900 beds. Greystar says international properties purchased in distress, with a value-add capital improvement applied, should perform well.

 

This transaction comes on the heels of other large portfolio acquisitions and investments the company has made in 2013, totaling approximately $3 billion. Earlier this year, Greystar partnered with Goldman Sachs and other partners to acquire a $1.5 billion portfolio of multifamily assets owned by Equity Residential. Greystar and Goldman Sachs were advised by Macquarie Capital.

 

 

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