Greystar completed the acquisition of five purpose-built student accommodation assets for $404m.

Greystar, a provider of real estate services, completed the acquisition of five purpose-built student accommodation assets for $404m. "The acquisition marks our re-entry into the regional UK student accommodation market following the sale of iQ and a successful six years owning and operating a separate premium portfolio in London. We see potential to generate additional yield from these assets through dynamic pricing and the introduction of our world class operating platform. The fundamentals of the UK student accommodation market are still strong despite the pandemic. There was a record number of applications to higher education institutions across the country and students are adapting to a hybrid model of learning. Meanwhile there is still a structural undersupply of student accommodation to meet this demand," Ben Mowbray, Greystar Senior Director.