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Harrison Street sells €400m student housing portfolio to GSA

Posted by Sajni Shah in ,

Image courtesy of Flickr, Creative Commons

Harrison Street has sold a EUR400m student housing portfolio to Global Student Accommodation (GSA). The portfolio is made up of five properties in Ireland and totals 1,971 beds.

The properties are The Tannery, Ardcairn House, New Mill, Broadstone Hall and Kavanagh Court (two phases). The second phase of Kavanagh Court is expected to be completed by mid 2020.

The student housing portfolio boasts a 97% occupancy rate.

As GSA and Harrison Street are joint venture partners, it is expected that more deals like this will be completed in the near future.

It is believed GSA will manage the operations of the five properties and, on behalf of investors, will also retain long-term strategic control of the portfolio.