GMH Communities and Invesco Real Estate Acquire Purdue Student Housing Portfolio

M&A · Partnership
โดย PR Newswire·US·Read original
Summary · why it matters

GMH Communities and Invesco Real Estate have acquired the two-property student housing portfolio of Grant Street Station and South Street Station in West Lafayette, Indiana, adding 364 beds to GMH's national student housing portfolio. The portfolio comprises 176 units and 364 beds serving Purdue University, with Grant Street Station about 0.1 miles from campus and South Street Station about 0.2 miles away; both were built in 2014. Randall Calvert of TSB Realty served as exclusive sales broker for the transaction. GMH Communities CEO and President Gary Holloway Jr. said the communities' location, quality and competitive positioning made them an exciting opportunity, while GMH Vice President of Acquisitions Scott Hirshman said rents remain meaningfully below newer pedestrian properties, supporting durable occupancy and rental growth. Jay Hurley, Managing Director of Acquisitions at Invesco Real Estate, said the firm was pleased to partner with GMH in a market with compelling long-term fundamentals, calling student housing a high-conviction sector. Invesco Real Estate is the $86 billion global real estate investment platform of Invesco Ltd.

Impact on stocks 2

Financials▲ · 1 stocks
Invesco Plc
IVZ
▲ PositiveCapitalrelevance

Invesco Real Estate, its $86B platform, partnered with GMH to acquire the Purdue student housing portfolio, expanding its real estate holdings.

Aging Population▲ · 1 stocks

Off-coverage companies 2

GMH CommunitiesPrivate▲ Positive
Capitalrelevance

GMH Communities acquired the two-property Grant Street Station and South Street Station portfolio, adding 364 beds to its national student housing portfolio.

TSB RealtyPrivate± Mixed
relevance

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