We are delighted to announce that GSA has formed a new joint venture with Nuveen, a TIAA company, on behalf of parent company TIAA, and signed an agreement to acquire the YouFirst Campus portfolio in France from Gecina for c.€540 million. The transaction secures entry into the French student housing market for both GSA and Nuveen, extending our respective pan-European PBSA footprints. The JV will acquire Gecina’s student housing portfolio of over 3,600 beds across 18 operational assets in Bordeaux, Lille, Lyon, Marseille and Paris, providing immediate scale and market presence across the country’s leading educational cities. The portfolio also includes four development sites in Paris creating an accretive pipeline that aligns to the JV’s value add and long-term strategy. Upon completion of the transaction, the spaces will be operated by our global operating partner Yugo, who will deliver an enhanced experience for students and scope for operational efficiencies. This is another step forward for GSA as we continue to implement our European growth strategy, and maintains the momentum from our entry into Italy in November. This further diversification of our portfolio means that GSA is now the world’s most globally diversified student housing investor and asset manager and well positioned for future growth. Read more here: https://lnkd.in/e_HGanfE #Nuveenrealestate #pbsa #studenthousing #studentaccommodation #studyinfrance #highereducationinfrance
thank you Aaron Bailey for the “first class” coordination and management from GSA - Global Student Accommodation and Nuveen, a TIAA company
Hearty congratulations on the formation of this wonderful new JV combining expertise for a successful partnership. Congratulations also on your successful entry into the French market.
What a Christmas present!! Congrats !!!
Well done GSA team!
Another fantastic achievement GSA team! First Italy, now France - the perfect ‘Christmas present’ to yourselves and all stakeholders. Congratulations!
Great news ! Congratulations to the GSA Team involved in this project. Welcome in 🇫🇷
Great transaction for the GSA team and another new market before year end. Bienvenue en France.
Great news Aaron Bailey and team! 💪🏼
Business Developer secteur étudiant/social/coliving chez Washin 🤖 Be Free, Be Clean, Think WASHiN
3moHi team GSA ! I am the sales representative on student housing at WASHiN. We are the operator on connected laundry in France. Let's talk about how we can equip your spaces with our new solution made for student housing !