Student Roost deal comes home for Greystar

Greystar and GIC Realty have completed the sale of two of Student Roost’s assets, The Heights and The Old Fire Station in Birmingham, to Greystar Equity Partners Europe.

Greystar and GIC Realty acquired Student Roost, the UK’s third largest purpose-built student accommodation provider, through a joint venture partnership after the transaction was cleared conditionally by the CMA in December 2022.

Since entering the UK PBSA market in 2013, Greystar has established its Chapter Living brand in London and introduced its pan-European Canvas brand to the UK market with properties in London, Coventry, Manchester and Glasgow.

Following the sale, The Heights (909 beds) and The Old Fire Station (483 beds) will operate under GEPE I’s Canvas brand.

Mark Allnutt, executive director – Europe, Greystar, said:  “We are pleased the CMA has cleared our discretionary fund GEPE I to acquire these assets from the Student Roost portfolio, as it will allow us to expand the Canvas brand to Birmingham. We are now focused on providing a smooth transition for residents and team members at The Heights and The Old Fire Station, so they can continue having a great experience.”