GSA, Morgan Stanley Form $1.6 Billion Joint Venture with Focus on Student Housing

London — Global Student Accommodation (GSA) has announced a joint venture partnership with a fund advised by Morgan Stanley Real Estate Investing. The JV will focus on becoming a leader in the U.S. student housing sector. 

To begin the partnership, GSA has brought $1.6 billion of initial seed assets with close to 15,000 beds across 21 states and 29 cities. These properties include the London-based company’s existing U.S. portfolio acquired in 2020, along with the recently closed acquisition of more than 8,100 beds. 

“This is a significant opportunity for both GSA and Morgan Stanley Real Estate Investing to together make a meaningful impact in the market,” says Alec Burger, chair of GSA. “Since entering the U.S. market, GSA has been deliberate in executing its growth strategy, proven by our most recent acquisition, enabling us to seed this partnership with a sizable and highly attractive portfolio.”

This partnership marks Morgan Stanley Real Estate Investing’s first investment in the U.S. student housing sector, according to GSA.