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Singapore's GIC, partner buy UK student housing portfolio
September 29, 2016 / 6:02 PM / a year ago

Singapore's GIC, partner buy UK student housing portfolio

(Reuters) - GIC Private Ltd [GIC.UL], Singapore’s sovereign wealth fund, said it partnered with Global Student Accommodation UK Ltd to buy a UK student accommodation portfolio from Oaktree Capital Management LP [OAKCP.UL].

The transaction for the portfolio of 7,150 beds is the largest student accommodation deal so far this year, GIC said on Thursday.

Britain’s property sector was hit hard by the country’s historic vote in June to leave the European Union, but the market has since steadied.

Terms of the deal were not disclosed.

Reporting by Pranav Kiran in Bengaluru; Editing by Sriraj Kalluvila

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