Bank of Ireland has supported Global Student Accommodation (GSA) in a refinancing deal that will bolster the student housing sector in Ireland.
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.
“Ireland benefits from a strong supply of domestic and international students. This underpins the sector’s resilience, ensures strong occupancy and drives performance”
GSA provides around 3,500 student beds in Ireland, across Dublin and Cork.
In a refinancing of a portfolio of four student accommodation properties, Bank of Ireland has continued its long-standing relationship with GSA.
Energy-efficient accommodation
“Having worked closely with Bank of Ireland to develop and establish the purpose-built student accommodation sector in the country, I’m delighted to be continuing our relationship with this transaction,” explained John Jacobs, Global Head of Capital at GSA.
He said that ESG considerations are incorporated into the design and development of schemes with the portfolio providing energy-efficient accommodation.
GSA works closely with Yugo, its global operating partner, to provide a socially conscious and safe environment for their students.
“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. This underpins the sector’s resilience, ensures strong occupancy and drives performance.”
Brian Gaffney, director with Bank of Ireland Corporate & Commercial, said that the Bank is the market leader in supporting student accommodation to address the current shortfall in supply.
“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.”
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