• MSREI and GSA partnership secures one of the largest student housing transactions globally this year, aligning with the partnership’s growth strategy in the United States.
• A unique off-market portfolio acquisition consisting of 6,200 beds across eight assets near top-ranking universities.
• Strengthens the partnership’s market position in the United States, now with a portfolio of 50 properties across 23 states and nearly 24,000 beds.
• Yugo appointed as manager – adding value through operational scale, expertise and unparalleled student experiences.

Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (“MSREI”), and Global Student Accommodation (“GSA”), the global leader in student housing, have completed the acquisition of a portfolio of eight student housing assets in Tier 1 U.S. university markets from a joint venture between a wholly owned subsidiary of Abu Dhabi Investment Authority (“ADIA”) and Landmark Properties (“Landmark”). This transaction is valued at more than $1 billion.

This unique opportunity was off-market and is one of the year’s largest single transactions in the sector in the U.S. and globally. It is a strategic move for the MSREI and GSA partnership, to further curate a diverse portfolio of high-quality assets across the United States, the world’s largest student university market with 20 million students.

The acquired assets are located in prime university cities across seven states and cater to students at top ranked universities including, the University of Virginia, University of Florida, Texas A&M, and Penn State University. The quality of the assets and their proximity to campus is unrivalled and is reflected in nearly 100% occupancy across the 6,200-bed portfolio.

The acquisition also marks the MSREI and GSA partnership entering new markets in Virginia, Georgia, and Pennsylvania, while significantly expanding its presence in established markets such as Texas, Florida, Oregon, and North Carolina. Through its partnership MSREI’s and GSA’s U.S. portfolio now extends to 50 properties across 36 cities in 23 states and nearly 24,000 beds.

Nicholas Porter, Chief Executive Officer at The Dot Group, commented:

"GSA, as part of the Dot Group, further expands its market position with its partner Morgan Stanley Real Estate Investing (“MSREI”), representing another pivotal step forward in its U.S. strategy.  

"This acquisition is testament to the depth of our global teams, our access to unique opportunities and the strength of our institutional relationships in the United States and globally. An off-market portfolio of this size and quality is rare and demonstrates our experience and expertise in the student housing market.

"Yugo, the leading U.S. and global student housing operator, will manage and rebrand the newly acquired assets, creating further scale and operational excellence with enhanced student experiences across the portfolio.”

Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing commented:

“This student housing portfolio fully aligns with our strategy to acquire high-quality, resilient assets in prime locations. We are pleased to partner with GSA to strengthen our market position to capture the ongoing demand for student housing in some of the country’s top university markets.”