AUSTIN, TEXAS; FLAGSTAFF, ARIZ.; AND CHARLESTON, S.C. — Global Student Accommodation (GSA) has completed the acquisition of a five-property student housing portfolio totaling over 1,600 beds. The seller was Harrison Street, an investment management firm headquartered in Chicago. The portfolio includes three assets in Austin, one in Flagstaff and one in Charleston. The price and names of the specific properties were not disclosed. Student housing provider Yugo will take on the management of all five assets immediately, with the aim of enhancing students’ overall experience throughout and beyond university and college life. The transaction gives GSA access to the new market of Charleston, which is rapidly becoming a tech hub and has seen its labor pool grow three times faster than the U.S. average since 2010. This growth is also reflected in student applications to the College of Charleston, which have increased 29.1 percent over that same time period. “These latest additions to our portfolio build on the momentum that we have had since entering the U.S. market at the start of 2021, where demand for student housing remains robust,” says Robin Moorcroft, transaction director of GSA. — Kari Lloyd
