Blackstone-backed iQSA and Scape Living to acquire GCP Student Living for $1.34bn.

Student housing providers Blackstone-backed iQSA and Scape Living to acquire GCP Student Living, an investment firm that invests in private student accommodation and teaching facilities, for $1.34bn. "GCP has a formidable record of value creation since IPO. GCP and its managers have assembled a portfolio of the highest quality focused on a location which, in normal circumstances, has the highest imbalance between supply and demand in its sector. However, at a time when investment market demand for assets of this type is at an unprecedented level, despite ongoing uncertainty created by the pandemic and Brexit on international student movements, this transaction enables our shareholders to realise full value for their investment at a price which exceeds GCP's previous all-time high share price," David Hunter, GCP Chairman.