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Singapore’s Wealth Fund GIC, Greystar Agrees on a Deal to Acquire UK Student Housing

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Singapore’s sovereign wealth fund and a big US property developer agree to acquire a £3 billion-plus portfolio of student housing, according to a report by FT on Monday.

The acquisition signals confidence in the UK market for rental property irrespective of rising inflation and rising interest rates.

Final bids for Student Roost, owned and managed by Canadian fund Brookfield, were presented on Friday, and GIC and Greystar came out as the successful bidders overnight with an offer of over £3.3B.

The pair have topped a trio of rivals, including US private equity giant Blackstone, specialist student housing investor GSA and UK company Unite Students.

The deal is among the largest UK real estate arrangements struck since the pandemic started more than two years ago.

Rental housing and student properties have remained a major target for investors irrespective of the rising cost of living and surging borrowing costs. FTSE 100 up +0.19%, GBPUSD up +0.26%

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