Tue, 06/05/2014 - 14:11
Global Student Accommodation Group (GSA) has completed its purchase of a 50 per cent stake in Coral Portfolio following approval by the regulators.
GSA Group, which develops, operates and manages branded portfolios of purpose-built student accommodation around the world, intends to actively manage the Coral Portfolios, tapping into growing student demand and international mobility.
The deal will provide more international opportunities to attract a broader range of long term partnerships with investors including intermediaries, wealth managers, private family offices and institutions.
The student accommodation sector has started to move from alternative asset class into the mainstream as investments and transactions in the UK and US reach USD5 billion.
Student numbers around the world are forecast to increase by 100 million in the next 10 years yet the supply of professionally managed quality accommodation near to internationally renowned universities is severely lagging.
Coral Portfolio was established in 2008 and is the promoter of an EU regulated fund platform. It offers investors exposure to the student accommodation sector and other prime real estate opportunities in the UK and internationally. This deal will extend Coral’s current presence in Luxembourg and London with representative offices in Hong Kong and Dubai.
Nicholas Porter, executive chairman of GSA Group, says: “As a team we have always placed the needs of investors at the heart what we do and we know that student accommodation is one of the most attractive sectors for investors seeking resilient capital and rental growth. It’s very exciting to see the sector becoming a mainstream investment choice and I am looking forward to working together with the Coral team to position the Portfolio as the leading student accommodation fund for global and UK investments.”
John Kennedy, co-founder of Coral Portfolio Ltd, says: "This transaction will enable us to drive significantly increased investor returns, fund performance and the spread of capital into important international cities. The GSA team has a great track record for delivering risk adjusted returns and will bring an unrivalled level of expertise and access to new opportunities for our investors. There are huge opportunities ahead and this dynamic partnership will place us firmly at the forefront of these to build upon Coral’s successes.”
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