Bahrain-based investment firm GFH Financial Group has bolstered its US property portfolio with the purchase of a US$300 million student housing portfolio.
The acquisition has been made in partnership with Student Quarters, a student housing specialist based in the US and a GFH subsidiary.
The portfolio comprises properties in Texas, Michigan and Missouri near the respective universities in those states. They account for more than 2,000 beds in total.
The deal is in line with GFH’s strategy of building a property portfolio that targets the top 150 universities in the US.
This strategy is based on universities that have shown steady growth in enrolments year-on-year and an occupancy rate of more than 90% for the student housing sector.
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