GIC, GSA to invest in German student dorm

Singapore

SINGAPORE sovereign wealth fund GIC and student accommodation operator GSA on Tuesday announced a partnership to invest in the German student accommodation market together.

They plan to invest in a portfolio of close to 1,000 student beds which GSA acquired in June this year. This portfolio features properties in Frankfurt, Darmstadt, Munster and Dresden as well as a pipeline of 1,500 beds, which will be expanded through investments, developments and in working with local property companies.