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Wellcome exists to improve health by helping great ideas to thrive, and is a politically and financially independent foundation. Blackstone confirms £4.66bn iQ buy By Jessica Newman 2020-05-15T15:24:00 Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the £4.66bn sale of iQ Student Accommodation company Goldman Sachs Merchant Banking Division and Wellcome said the disposal of iQ Student Accommodation, which is the largest ever private real estate transaction in the UK, is subject to regulatory approvals. The majority shareholders are the bank Goldman Sachs, and the … Their residents are from over 120 different nations. We want to give students peace of mind by creating safe, comfortable environments. iQ’s portfolio of purpose-built assets is concentrated in London, where iQ is the largest owner of student accommodation, and other leading U.K. university cities - Manchester, Leeds, Sheffield, Edinburgh and Birmingham. With an investment of over £95 million, The Blackstone Group is unveiling the Group’s first major student housing development, Nido London’ located on Pentonville Road in King’s Cross as part of the King’s Cross redevelopment programme and next to the Eurostar Terminal, London’s new gateway to Europe, due for opening in Spring 2007. I’d like to thank Goldman Sachs and Wellcome, whose support has allowed iQ to grow into the world-class business it is today; with a market-leading portfolio concentrated in those cities of strongest student demand, and a unique student accommodation experience that sets us apart. Goldman Sachs' merchant banking unit and medical charity Wellcome Trust have agreed to sell the British student accommodation company iQ to Blackstone … Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. It has net investment assets of over £26 billion as at 30 September 2019. The firm was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs’ student housing business in 2016. IQ's portfolio includes 76 student accommodation sites in the UK, with 80 per cent of these sites located in prestigious Russell Group university towns. Peter Pereira Gray, CEO and Managing Partner, Investment Division, Wellcome, said: James Seppala, Head of Real Estate Europe at Blackstone, said: iQ is one of the leading providers of private purpose-built student accommodation in the UK, and owns and operates 67 student premises in 27 towns and cities. Brookfield Asset Management Inc. and Greystar Real Estate Partners LLC are among suitors considering bids for U.K. student housing provider iQ Student Accommodation … Our student accommodation is well-located – with 84% of our portfolio value in Russell Group cities and 52% in London - and high quality, providing the best home-from-home environment for 28,000 university students from all over the world. With student numbers in the UK at an all-time high, and growth set to continue in the coming years, there has never been a more exciting time to be a leading player in the student accommodation sector.”, Richard Spencer, Managing Director at Goldman Sachs, said: “Over the course of our ownership, iQ has become the UK’s leading provider of high-quality student accommodation. The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals. It has net investment assets of over £26 billion as at 30 September 2019. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the sale of iQ Student Accommodation to Blackstone for €5.22bn (£4.66bn). About iQ Student AccommodationiQ is one of the leading providers of private purpose-built student accommodation in the UK, and owns and operates 67 student premises in 27 towns and cities. Rob Roger, CEO of iQ Student Accommodation, said: “I am delighted to be working with a partner of Blackstone’s calibre, as we continue to deliver our ambitious growth plans. Blackstone’s real estate business was founded in 1991 and has $163 billion of investor capital under management. Sky News has learnt that Blackstone is exploring the prospect of submitting an indicative offer for IQ Student Accommodation ahead of a deadline later this month. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, rental housing, office, hospitality and retail. In May, Blackstone acquired iQ Student Accommodation in a £4.66 billion deal. I am confident iQ will continue to deliver an excellent experience for its customers under new ownership.”, James Seppala, Head of Real Estate Europe at Blackstone, said: “This acquisition is a continuation of our strategy to invest in high-quality assets and businesses in the U.K. and testament to our long-term belief in the UK. Today the company owns and manages more than 28,000 beds across the UK, with a focus on Russell Group cities, and with a development pipeline in excess of 4,000 beds all located in cities of highest student growth and demand. Goldman Sachs Merchant Banking Division (“Goldman Sachs”) and the Wellcome Trust (“Wellcome”) today announced the sale of iQ Student Accommodation (“iQ”) to Blackstone for £4.66 billion. It was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. About WellcomeWellcome exists to improve health by helping great ideas to thrive, and is a politically and financially independent foundation. Wellcome’s mission is funded solely from its global, diverse portfolio designed to exist in perpetuity. It owns and operates 67 student premises across the country, with more than 28,000 beds and plans to add a further 4,000. An en-suite room in Bloomsbury in the centre of the capital costs £460 a week. “With student numbers in the UK at an all-time high, and growth set to continue in the coming years, there has never been a more exciting time to be a leading player in the student accommodation sector.”. Kirkland & Ellis advised Blackstone on their £4.66 billion acquisition of IQ Student Accommodation from Goldman Sachs and the Wellcome Trust. Nido was sold to the property firm Round Hill Capital six years later. global, diverse portfolio designed to exist in perpetuity. E: [email protected], Blackstone Press ContactsRamesh ChhabraT: +44 7810 501027E: [email protected]om, Alex Ritterman US private equity group Blackstone is betting big on Britain's property market. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. Blackstone Group Inc. agreed Wednesday to acquire IQ Student Accommodation from a group led by Goldman Sachs Group Inc. for £4.66 billion … The transaction is the largest ever private real estate Acquiring Organization: Blackstone Group Blackstone is an investment and advisory firm providing solutions that create value for investors and clients. El fondo de inversión Blackstone ha llegado a un acuerdo con Goldman Sachs y Wellcome Trust para comprar IQ Student Accommodation por 4.660 … Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. The property firm is one of the main players in the rapidly growing UK student housing market. Rob Roger, CEO of iQ Student Accommodation, said: “I am delighted to be working with a partner of Blackstone’s calibre, as we continue to deliver our ambitious growth plans. IQSA owns and operates 67 student accommodation sites in the UK, stretching from Dundee to Plymouth. iQ’s integrated operating platform combines a market leading focus on customer service and digital innovation, with continuing investment in its high-quality accommodation portfolio. Blackstone is betting big on Britain’s property market. © 2020 Guardian News & Media Limited or its affiliated companies. It was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate. IQ Student Accommodation IQ Student Accommodation is a student housing company that offers a range of semester contracts. British higher education is globally renowned and we are delighted to invest meaningful capital to support iQ’s further growth and continue to deliver the highest quality accommodation for students across the country.”. This is projected to grow by a further 461,000 by 2030 to more than 2.2 million, with international students expected to make up 45% of the total. Investors such as private equity firms and Goldman have been piling into purpose-built student housing in recent years, as demand continues to outstrip the number of beds provided by 30%. T: +44 7778 487939 Blackstone has paid £4.7bn for student accommodation company IQ in Britain’s largest private real estate deal as it continues a post-election spending spree. If you're living in a residence provided through IQ Student Accommodation there is some good news; you automatically have access to a range of resident concierge services. The iQ deal follows media reports on Tuesday that Blackstone will use money from a $14 billion Saudi-backed infrastructure fund to invest in Britain. A further 114,000 beds are in the pipeline. Last modified on Thu 27 Feb 2020 13.03 GMT. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate. The Gowling WLG team was led by Michael Twining, Robin Creek, Paul Lloyd and James Eddowes, with support from almost 50 people from various service lines across the firm. About Goldman Sachs Merchant Banking DivisionFounded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. IQ Student Accommodation is a British student housing company. UK’s largest private property deal agreed as Goldman Sachs and Wellcome move out, Wed 26 Feb 2020 18.43 GMT Goldman Sachs Press ContactsJoseph Stein Richard Spencer, Managing Director at Goldman Sachs, said: “Over the course of our ownership, iQ has become the UK’s leading provider of high-quality student accommodation. The company’s focus on customer service and continued investment in the platform has enabled iQ to become a leader in the sector and provide an outstanding experience to students. I’d like to thank Goldman Sachs and Wellcome, whose support has allowed iQ to grow into the world-class business it is today; with a market-leading portfolio concentrated in those cities of strongest student demand, and a unique student accommodation experience that sets us apart. In the past decade, iQ Student Accommodation has provided accommodation to more than 28,000 students in 67 sites across 27 UK cities. iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. Private investment management company Blackstone acquired the accommodation provider in February in a reported £4.7bn deal . American buyout firm Blackstone is believed to be considering making an offer worth up to £4billion for university housing provider IQ Student Accommodation. Goldman Sachs International, Morgan Stanley & Co. International plc and Eastdil Secured served as financial advisors to the Sellers and Jones Day as legal counsel. Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, rental housing, office, hospitality and retail. With student numbers in the UK at an all-time high, and growth set to continue in the coming years, there has never been a more exciting time to be a leading player in the student accommodation sector.”. 28,000 students Providing the best home-from-home environment from which over 28,000 students can confidently make the most of the opportunities during their university years. https://www.iqstudentaccommodation.com/. Blackstone is a global leader in real estate investing. The short supply has been pushing up rents. ”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. About Blackstone Real EstateBlackstone is a global leader in real estate investing. All rights reserved. We are proud to have been part of that journey alongside iQ’s excellent management team and our valued partners at Wellcome.”. IQ Student Accommodations owns and operates 67 sites in 27 towns and cities in the UK. iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. Our student accommodation is well-located – with 84% of our portfolio value in Russell Group cities and 52% in London - and high quality, providing the best home-from-home environment for 28,000 university students from all over the world. We want to give students peace of mind by creating safe, comfortable environments. US-based private equity group Blackstone has agreed to buy IQ Student Accommodation, which is owned by Goldman Sachs, for £4.7bn in one of the … iQ is proud to have been part of the higher education ecosystem for ten years - Reimagining the student accommodation experience and giving our residents their best year yet. Rents for en-suite accommodation have been at 16% above the rate of inflation since 2014, according to a recent report. Bank of America and Citi served as financial advisors and Savills served as property adviser to Blackstone and Kirkland & Ellis and Gowling WLG served as legal counsel. We are proud to have been part of that journey alongside iQ’s excellent management team and our valued partners at Wellcome.”, Peter Pereira Gray, CEO and Managing Partner, Investment Division, Wellcome, said: “Wellcome has invested steadily in iQ from its inception 14 years ago. Last year, 32,000 new beds were delivered across the UK of which nearly 90% were from private sector providers. It owns 66 halls of residence, with 28,000 bedrooms. iQ Student Accommodation | Affordable Student Housing in the UK London Student city guide to London With more than 20 universities and colleges, there's nowhere better to make the most of student … The number of full-time students in the UK has reached a record level. Goldman Sachs Merchant Banking Division (Goldman Sachs) and the Wellcome Trust (Wellcome) have agreed to sell iQ Student Accommodation (iQ) to Blackstone for £4.66 billion. IQ Student Accommodation operates 66 sites in 27 locations, with its most recent development has just opened in Glasgow City Centre. Blackstone’s real estate business was founded in 1991 and has $163 billion of investor capital under management. It also offers student digs in other leading university cities such as Manchester, Leeds, Sheffield, Edinburgh and Birmingham. Available for everyone, funded by readers. Blackstone is buying iQ due to an expected surge in the student population over the next few years. This transaction alone is worth more than all the PBSA stock traded in 2016, 2017 or 2018.

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