GIC and APG will acquire a substantial stake in The Student Hotel (TSH) and commit to invest to fuel further expansion for the hybrid hospitality leader, subject to customary regulatory approvals.
The transaction values TSH, including assets currently under development, at €2.1 billion.
The deal sees APG and founder Charlie MacGregor increase their current stake in TSH. APG first invested in TSH in 2015. MacGregor and Aermont Capital entered into business in 2014 after MacGregor opened the first The Student Hotel in 2012. GIC now joins as a new investor.
TSH is well-positioned towards Millennial and Gen-Z audiences, with its focus on community building through its mixed-use facilities and blended spaces, offering co-working and meeting spaces that also attract local start-ups, corporates and neighbourhood communities. The connection with the local communities is especially important as TSH collaborates with local municipalities to revitalise these areas by improving the quality of hospitality services so as to attract talent to cities.
