Greystar Real Estate Partners, a specialist in the investment, development, and management of high-quality rental housing, has closed on the acquisition of Student Roost, the UK’s third largest purpose-built student accommodation provider, from one of Brookfield’s real estate private funds through a joint venture partnership with GIC, a global institutional investor.
Greystar Real Estate Partners (Greystar), a specialist in the investment, development, and management of high-quality rental housing, has closed on the acquisition of Student Roost, the UK’s third largest purpose-built student accommodation (PBSA) provider, from one of Brookfield’s real estate private funds through a joint venture (JV) partnership with GIC, a global institutional investor.
The JV will continue to trade Student Roost under its widely-recognised existing brand. The new management structure will be led by Jess Gallop as Managing Director of Student Roost, having previously been Director of People & Organisational Effectiveness. Jess will lead the operational business and corporate functions within Student Roost.
Greystar will be responsible for delivering on the growth agenda of the business with the Student Roost management team and driving asset and operational enhancements to create an optimised platform for Student Roost, leveraging its decade-long experience as active investors, developers and managers of student housing. As part of the transaction, Greystar has agreed to divest two of Student Roost’s assets, The Heights (909 beds) and The Old Fire Station (483 beds) both in Birmingham. The sale is being managed by JLL.
Since entering the UK PBSA market in 2013, Greystar has successfully grown its Chapter Living brand in London, acquired the Canvas brand last year and part-owned IQ until 2020.
