International legal practice Osborne Clarke has advised Global Student Accommodation Group (GSA) on the acquisition of two purpose built student accommodation (PBSA) assets in Bristol alongside joint venture partner, Harrison Street. The Print Hall and Unity Street residences were acquired from a UK pension fund.
The properties have a combined 500 beds and are conveniently located near to the new Temple Quarter Enterprise Campus at the University of Bristol, which is due to open in 2023 and is destined to be home to 3,500 students and 800 university staff.
The properties will be operated by GSA in partnership with the University of Bristol.
David North, Partner at Osborne Clarke, commented: "We are thrilled to have worked with the GSA team on this transaction. The acquisition clearly demonstrates GSA's desire to work collaboratively with prestigious higher education institutions in the UK and address the undersupply of bed spaces for students."
Partners David North, Phil Davies, Gary Lawrenson and Tracey Wright advised GSA supported by Senior Associates Andrew McCormack, Ben Naish and Simon Budge.
GSA is a long standing client of Osborne Clarke and is key to Osborne Clarke's pan-European student accommodation practice having acted for them in jurisdictions such as the UK, Spain and Germany. Our student accommodation team is a recognised industry leader.
With over 250 years of property expertise, Osborne Clarke’s Real Estate and Infrastructure sector team is a recognised industry leader in student accommodation. The team works with pan-European clients and currently acts for five of the top student accommodation providers in the UK.