-- 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: penny.berger@gpt.com.au
T: +61 402 079 955
Grant Taylor
Group External Communications Manager
The GPT Group
E: grant.taylor@gpt.com.au
T: +61 403 772 123
