Greystar Acquires Portfolio of London Student Accommodation Assets

Thursday, May 15, 2014

Greystar is pleased to announce that the company has completed the purchase of a portfolio of U.K. student accommodation assets. The portfolio is comprised of Woodland Court, Wedgwood Court and Great Suffolk Street, three assets in Central London consisting of 1,129 beds in total. Greystar’s acquisition follows a previous
acquisition of 21 properties and over 6,900 beds throughout London and the U.K. that Greystar acquired from the administration of Opal in October, 2013.

“This transaction aligns perfectly with Greystar’s strategy to acquire well-located, high-quality assets that will benefit from our organization’s track record of repositioning and improving assets in order to provide a superior living experience for our residents,” said Bob Faith, Founder and CEO of Greystar. “We are committed to building a world class platform in the U.K. for the management, development and investment of both the student accommodation
and private rented sector assets.”

Greystar is the largest operator of apartment communities in the United States, with over 215,000 apartments under management and was the largest private acquirer of apartments globally in 2013. The company specializes in private rented sector and student accommodation assets, operating principally in the U.S., but in addition to the U.K., has also recently expanded into Mexico. Greystar has a stated intention to establish itself as a leading player in the U.K. student and private rented sectors.

“While there are differences between the U.S. and U.K. markets, the demand for exceptional product and superb customer service is universal. We plan to make significant investments in this portfolio to upgrade the flats and transform the amenities” said Mark Hafner, Greystar’s Senior Managing Director. “We believe there is a tremendous opportunity in the U.K. and are continuing to look at additional acquisition and development opportunities in PRS and student accommodation.”

About Greystar
Greystar is a fully integrated real estate company offering expertise in investment management, development, and property management of residential properties. Headquartered in Charleston, South Carolina, Greystar is the largest operator of apartments in the United States, managing approximately 215,000 units in over 100 markets. Also, Greystar has over $1.5 billion of development underway and has a robust institutional investment management platform with over $7 billion in assets in major markets globally. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of worldclass services in the rental residential real estate business. To learn more about Greystar, visit www.greystar.com.

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Greystar: Tim Cook
+1.813.864.1989
tcook@greystar.com
 
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