GIC JV buys US student housing portfolio for US$1.1b

SINGAPORE (Jan 4): The joint venture (JV) formed by Singapore sovereign wealth fund GIC, the Canada Pension Plan Investment Board and The Scion Group, has acquired a student housing portfolio in the US for approximately US$1.1 billion (RM4.42 billion).

According to a Straits Times report, the portfolio consists of 24 assets located in 20 university campus markets across the US, comprising 13,666 beds.

This article first appeared in The Edge Financial Daily, on Jan 4, 2018.

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