Morgan Stanley Inks Global Student Accommodation Joint Venture
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Morgan Stanley’s real estate investing arm has formed a joint venture with Global Student Accommodation with ambitions to tackle the fragmented U.S. student housing industry.
GSA is contributing a $1.6 billion portfolio that includes almost 15,000 beds across 21 states and 29 cities, GSA Chairman Alec Burger said in an interview. Almost two-thirds of the portfolio features so-called Power Five schools, a reference to athletic conferences, and it will be operated by GSA’s brand Yugo.