Singapore's GIC taps Canadian group to acquire US student housing

Singapore's GIC taps Canadian group to acquire US student housing

Ibtimes·2018-01-06 11:05

The joint venture amongst Singapore sovereign wealth fund GIC, Canada Pension Plan Investment Board (CPPIB), and The Scion Group acquired a student housing portfolio in the United States for around US$1.1 billion.

The student housing portfolio is composed of 24 assets across 20 university campus markets and is comprised of over 13,000 beds. The acquisition includes the purchase of 22 properties and the recapitalisation of two communities formerly handled by Scion-affiliated private syndications.

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