”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. We want to give students peace of mind by creating safe, comfortable environments. 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. Investors such as private equity firms and Goldman, have been piling into purpose-built student housing, High rent bills have led to student rent strikes. American buyout firm Blackstone is believed to be considering making an offer worth up to £4billion for university housing provider IQ Student Accommodation. It also offers student digs in other leading university cities such as Manchester, Leeds, Sheffield, Edinburgh and Birmingham. We have staff and security teams at each residence, on hand and on-site 24/7. Blackstone Group Inc. agreed to buy the iQ Student Accommodation business from Goldman Sachs Group Inc. and the Wellcome Trust in the largest-ever private real estate deal in the U.K. The firm was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs’ student housing business in 2016. Private investment management company Blackstone acquired the accommodation provider in February in a reported £4.7bn deal . “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.”. 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 … It was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. T: +44 207 774 4080, Wellcome Press ContactsClare Ryan Some of the iQ accommodation being built is vastly different from traditional student halls and includes studio flats or en-suite rooms, fast broadband, on-site gyms and cinemas. IQ Student Accommodation is a British student housing company. It owns 66 halls of residence, with 28,000 bedrooms. More than half of the company’s portfolio is in London, where iQ is the largest owner of student accommodation. The world’s largest property investor is weighing a £4bn takeover bid for a major British student housing provider as its owners plot a sale or stock market listing in 2020. 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. 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. 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. T: +44 (0)20 7611 8866 The US company is buying London-based IQ … 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. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. It owns and operates 67 student premises across the country, with more than 28,000 beds and plans to add a further 4,000. 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. 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. In the past decade, iQ Student Accommodation has provided accommodation to more than 28,000 students in 67 sites across 27 UK cities. 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. But the $6 billion that Steve Schwarzman’s private equity colossus is paying for iQ Student Accommodation is … IQ Student Services provides everyday services for residents living in IQ Student Accommodation properties across the UK. Blackstone has bought a £4.66bn (€5.53bn) UK student housing provider owned by Goldman Sachs and the Wellcome Trust. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the sale of iQ Student Accommodation to Blackstone for €5.22bn (£4.66bn). 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. 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%. It was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. The first Nido tower, with 1,000 beds, was opened that year in King’s Cross, London, followed in 2010 by a 33-floor tower in Spitalfields, east London with a 24-hour gym and a pizza vending machine. 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 iQ deal follows media reports on Tuesday that Blackstone will use money from a $14 billion Saudi-backed infrastructure fund to invest in Britain. An en-suite room in Bloomsbury in the centre of the capital costs £460 a week. Last modified on Thu 27 Feb 2020 13.03 GMT. Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. UK’s largest private property deal agreed as Goldman Sachs and Wellcome move out, Wed 26 Feb 2020 18.43 GMT 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. 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. We make sure that it is as easy as possible for students to become part of their new community by providing shared social and study spaces, free leisure facilities, gyms and events. 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 (“Goldman Sachs”) and the Wellcome Trust (“Wellcome”) today announced the sale of iQ Student Accommodation (“iQ”) to Blackstone for £4.66 billion. https://www.iqstudentaccommodation.com/. IQ Student Accommodation operates 66 sites in 27 locations, with its most recent development has just opened in Glasgow City Centre. 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. T: +44 7778 487939 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. 26th February 2020, London – 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. About WellcomeWellcome exists to improve health by helping great ideas to thrive, and is a politically and financially independent foundation. Student numbers are at an all-time high and are expected to … E: [email protected].com. It has net investment assets of over £26 billion as at 30 September 2019. 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. 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 … Rob Roger, iQ’s chief executive, said he was looking forward to “working with a partner of Blackstone’s calibre, as we continue to deliver our ambitious growth plans”. 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. Companies own and operate 18% of purpose-built student accommodation currently, while universities account for a further 18% and private rentals make up 42%. Their residents are from over 120 different nations. 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. US private equity group Blackstone is betting big on Britain's property market. Goldman Sachs Press ContactsJoseph Stein A further 114,000 beds are in the pipeline. We are proud to have been part of that journey alongside iQ’s excellent management team and our valued partners at Wellcome.”. 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. High rent bills have led to student rent strikes in the past. In May, Blackstone acquired iQ Student Accommodation in a £4.66 billion deal. Blackstone is betting big on Britain’s property market. iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. Available for everyone, funded by readers. At iQ, rents start at £75 a week in Bradford, and £195 a week in London. The transaction is the largest ever private real estate 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. 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.”. About Goldman Sachs Merchant Banking Division. About Blackstone Real EstateBlackstone is a global leader in real estate investing. Brookfield Asset Management Inc. and Greystar Real Estate Partners LLC are among suitors considering bids for U.K. student housing provider iQ Student Accommodation … 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. All rights reserved. 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 … Blackstone is buying iQ due to an expected surge in the student population over the next few years. 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. 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. About Goldman Sachs Merchant Banking DivisionFounded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. The property firm is one of the main players in the rapidly growing UK student housing market. Blackstone Group Inc. agreed Wednesday to acquire IQ Student Accommodation from a group led by Goldman Sachs Group Inc. for £4.66 billion … 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. E: [email protected], Blackstone Press ContactsRamesh ChhabraT: +44 7810 501027E: [email protected]om, Alex Ritterman The number of full-time students in the UK has reached a record level. We have staff and security teams at each residence, on hand and on-site 24/7. Wellcome’s mission is funded solely from its global, diverse portfolio designed to exist in perpetuity. Founded in 2007, IQ Student Blackstone’s real estate business was founded in 1991 and has $163 billion of investor capital under management. Goldman Sachs International, Morgan Stanley & Co. International plc and Eastdil Secured served as financial advisors to the Sellers and Jones Day as legal counsel. © 2020 Guardian News & Media Limited or its affiliated companies. Wellcome exists to improve health by helping great ideas to thrive, and is a politically and financially independent foundation. Blackstone has agreed to buy IQ Student Accommodation from Goldman Sachs for £4.7bn, in the UK’s largest private real estate transaction. 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. Nido was sold to the property firm Round Hill Capital six years later. The firm says its rent includes wifi, access to the gym and communal areas, alongside 24-hour security, insurance and utility bills. Despite the increased investment, there were fewer than 650,000 student accommodation beds for 1.8 million undergraduates and postgraduates in the UK last year. Rents for en-suite accommodation have been at 16% above the rate of inflation since 2014, according to a recent report. We want to give students peace of mind by creating safe, comfortable environments. This transaction alone is worth more than all the PBSA stock traded in 2016, 2017 or 2018. 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 (MBD) is the primary center for the firm’s long-term principal investing activity. 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.”. Wellcome’s mission is funded solely from its. Acquiring Organization: Blackstone Group Blackstone is an investment and advisory firm providing solutions that create value for investors and clients. 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. IQSA owns and operates 67 student accommodation sites in the UK, stretching from Dundee to Plymouth. 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. Blackstone has struck the largest-ever private property deal in the UK by agreeing to acquire the UK student accommodation firm iQ in a £4.7bn deal. Over this time, including most recently in partnership with Goldman Sachs, iQ has grown to become one of the best student housing companies in the UK. UPDATE: 15th May 2020 – We can confirm the completion of the sale of iQ by Goldman Sachs Merchant Banking Division and the Wellcome Trust to Blackstone. The majority shareholders are the bank Goldman Sachs, and the … 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. Blackstone’s real estate business was founded in 1991 and has $163 billion of investor capital under management. global, diverse portfolio designed to exist in perpetuity. The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals. Blackstone’s first foray into luxury student dorms came in 2006 when it created Nido with the developer Generation Estates. 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. The New York-based private equity firm is buying iQ from the US investment bank Goldman Sachs and the health research charity Wellcome Trust. It has net investment assets of over £26 billion as at 30 September 2019. 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. IQ Student Accommodation IQ Student Accommodation is a student housing company that offers a range of semester contracts. 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