Charleston, S.C. — The 21 assets are primarily in London, with others in Leeds, Manchester and Liverpool.
Charleston, S.C. — Greystar and Goldman Sachs, advised by Macquarie Capital, will purchase a portfolio of U.K. student housing assets out of bankruptcy administration proceedings for the Opal Property Group. Greystar says this acquisition will lay the foundation for an expansion into the U.K. The firm is also expanding to Mexico. The agreement was signed on Sept. 25, and the acquisition is expected to be completed by the end of October.
The portfolio comprises 21 assets in London, Manchester, Leeds and Liverpool and represents the first acquisition undertaken by Greystar in the UK.
"This transaction provides access to a number of well-located but under-managed assets that we believe will be the first of many acquisitions in this sector," says Brett Lashley, managing director for Greystar in the United Kingdom.