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Greystar Snaps up London Residence

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Greystar has led a consortium of buyers that has purchased a purpose-built student accommodation asset in Shoreditch for £160m.

The accommodation was previously owned by Apache Capital but was snapped up by Greystar, along with partners Public Sector Pension (PSP) Investments and Allianz Real Estate.

Consisting of 458 student bedrooms, the residence is located in the heart of London's tech scene and sits close to Amazon's UK headquarters.

The acquisition boosts Greystar's Chapter portfolio, highlighting the company's commitment to the London market.

Commenting on the purchase, Troy Tomasik, Greystar managing director of investments in the UK and Ireland, said: "Greystar is excited to be expanding the Chapter portfolio with another high-quality student accommodation asset in London, which remains the premier global city for international students with its world-class universities and higher education institutions."

"We strongly believe that Paul St. East has significant long-term potential through integrating the asset with our Chapter brand to offer students the exceptional services and experiential living enjoyed at Greystar's other Chapter residences."