At a glance
- Company
- GPT
- Announcement
- Partnership
- Location
- Australia and New Zealand
Key figures
- Assets in mandate
- nine
- Accommodation capacity
- approximately 5,000 beds
- GPT funds under management
- more than $20 billion
People
- Bob JohnstonChief Executive Officer of GPT
Products and programs
October 5, 2023 -- GPT has commenced the investment and asset management of QuadReal Property Group’s (QuadReal) existing wholly-owned Australia and New Zealand Student Accommodation portfolio. The mandate comprises a significant portfolio of nine student accommodation assets housing approximately 5,000 beds.
GPT’s Chief Executive Officer, Bob Johnston, said: “We are very pleased to be strengthening our partnership with QuadReal through the addition of this Student Accommodation mandate to our Funds Management platform. We have a long history of leveraging our expertise and experience to add value for our investment partners, and we look forward to building upon this track record.”
Comprising assets in Melbourne, Brisbane, Adelaide and Auckland, the high quality student accommodation portfolio has high occupancy levels with locations in proximity to prominent universities. Property management services will continue to be provided by UniLodge.
The addition of the mandate aligns with GPT’s strategy to grow its Funds Management platform with high quality aligned capital partners. GPT has more than $20 billion in funds under management.
-ENDS-
For more information, please contact:
Penny Berger
Head of Investor Relations and Corporate Affairs
The GPT Group
E: [email protected]
T: +61 402 079 955
Grant Taylor
Group External Communications Manager
The GPT Group
E: [email protected]
T: +61 403 772 123
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Questions around this news
What does the QuadReal student accommodation mandate involve?
GPT has begun investment and asset management for QuadReal’s existing wholly owned student accommodation portfolio in Australia and New Zealand. The mandate covers nine assets with approximately 5,000 beds. The release says the portfolio has high occupancy and is located near prominent universities; UniLodge will continue providing property management services.
Where are the student accommodation assets located?
The portfolio includes assets in Melbourne, Brisbane, Adelaide and Auckland. The release describes their locations as close to prominent universities and reports high occupancy levels, but does not identify individual properties or universities.
What is the difference between investment management and asset management?
Investment management generally involves making decisions about how capital is allocated and overseeing investments in pursuit of an owner’s objectives. Asset management focuses on the performance and oversight of the assets themselves, which may include monitoring operations, planning improvements and managing relationships with service providers.
What does a student accommodation property manager do?
A student accommodation property manager typically handles day-to-day operations at a residence. Responsibilities can include leasing rooms, coordinating maintenance, assisting residents and managing building services. The specific scope depends on the arrangements between the property owner and manager.
