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Meeting the Dorm Demand
In a deal seven years in the making, an effort led by Goldman Sachs Asset Management sold iQ Student Accommodation to Blackstone for £4.66 billion.
There are three students for every bed in the UK. The need for housing is driven by increasing numbers of international students and steady domestic demand. We saw an opportunity to invest in under-managed and under-invested properties. Through acquisition and organic development, we grew the iQ portfolio during our ownership to more than 28,000 beds nationwide.
Catalyst for scale: as the combined company we created market-leading properties, customer service and digital innovation. With Goldman Sachs as a partner, iQ grew to be the UK student housing industry’s leading development and management company. The history-making £4.66 billion sale to Blackstone represents the largest-ever private real estate transaction in the UK.