Gatehouse, the London-based investment bank specialising in Shariah-compliant products, has acquired the Fountainbridge student accommodation in Edinburgh, UK, from Rockspring Property Investment Managers' UK Value fund for £20 mln (€27 mln).
Gatehouse, the London-based investment bank specialising in Shariah-compliant products, has acquired the Fountainbridge student accommodation in Edinburgh, UK, from Rockspring Property Investment Managers' UK Value fund for £20 mln (€27 mln).
The acquisition adds 331 bedrooms to Greystar's 1,600-bed portfolio, which was built up last year through four acquisitions worth over £100 mln.
'Student accommodation is a sector which is well understood and in high demand among our investor base. Today our clients are looking for stable, yielding assets, and Fountainbridge is the first of several income-generating investments which we plan to introduce throughout the remainder of the year,' said Henry Thompson, CEO of Gatehouse.
Marle Place Property Limited acted on behalf of Gatehouse, and Knight Frank acted on behalf of Rockspring.
