Global Student Accommodation (GSA) has announced refinancing for four of its purpose-built student accommodation (PBSA) properties in Ireland.
The €175m facility, provided by the Bank of Ireland Corporate and Commercial, covers New Mill, The Tannery, Ardcairn House and Broadstone Hall, all of which are in prime locations in Dublin.
GSA provides around 3,500 student beds in Ireland, across Dublin and Cork and the Bank of Ireland is continuing its long-standing relationship with the company with this deal.
“Supporting GSA aligns with this strategy as we strive to continue our support to the supply of Irish student accommodation.
“We are thrilled to extend our long standing relationship with GSA in Ireland. Funding the supply of modern, energy efficient, student accommodation remains a key priority for Bank of Ireland as part of the Group’s commitment to housing. These high-quality schemes provide essential housing for students with Yugo, GSA’s operating partner, dedicated to enhancing the student living experience.”
Brian Gaffney, Director, Bank of Ireland Corporate & Commercial
ESG considerations are incorporated into the design and development of schemes, with the portfolio providing energy-efficient accommodation.
GSA also works closely with Yugo, its global operating partner, to provide a socially conscious and safe environment for their students.
“Having worked closely with Bank of Ireland to develop and establish the PBSA sector in the country, I’m delighted to be continuing our relationship with this transaction.
“As the largest owner of student housing in the country today, GSA has seen first-hand its evolution. With some of the world’s leading higher education institutions, and now the only English-speaking country in the EU, Ireland benefits from a strong supply of domestic and international students, all of which underpins the sector’s resilience.”
John Jacobs, Global Head of Capital Markets, GSA
GSA was established in 2013 and has evolved to become a leading investment specialist focusing on real estate asset management in the student housing sector. The company is active in 11 countries with a presence in 80 of the world’s leading educational cities.
