An en-suite room in Bloomsbury in the centre of the capital costs £460 a week. Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. Blackstone’s real estate business was founded in 1991 and has $163 billion of investor capital under management. In the past decade, iQ Student Accommodation has provided accommodation to more than 28,000 students in 67 sites across 27 UK cities. 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. 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 … 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. 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. It has net investment assets of over £26 billion as at 30 September 2019. 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. 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%. 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. IQSA owns and operates 67 student accommodation sites in the UK, stretching from Dundee to Plymouth. 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 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. It also offers student digs in other leading university cities such as Manchester, Leeds, Sheffield, Edinburgh and Birmingham. Founded in 2007, IQ Student 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. Acquiring Organization: Blackstone Group Blackstone is an investment and advisory firm providing solutions that create value for investors and clients. Rents for en-suite accommodation have been at 16% above the rate of inflation since 2014, according to a recent report. 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. IQ Student Accommodation operates 66 sites in 27 locations, with its most recent development has just opened in Glasgow City Centre. We want to give students peace of mind by creating safe, comfortable environments. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the sale of iQ Student Accommodation to Blackstone for €5.22bn (£4.66bn). The US company is buying London-based IQ … The number of full-time students in the UK has reached a record level. Nido was sold to the property firm Round Hill Capital six years later. High rent bills have led to student rent strikes in the past. T: +44 (0)20 7611 8866 Companies own and operate 18% of purpose-built student accommodation currently, while universities account for a further 18% and private rentals make up 42%. It was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. 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”. 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. At iQ, rents start at £75 a week in Bradford, and £195 a week in London. 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. 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. https://www.iqstudentaccommodation.com/. But the $6 billion that Steve Schwarzman’s private equity colossus is paying for iQ Student Accommodation is … El fondo de inversión Blackstone ha llegado a un acuerdo con Goldman Sachs y Wellcome Trust para comprar IQ Student Accommodation por 4.660 … UK’s largest private property deal agreed as Goldman Sachs and Wellcome move out, Wed 26 Feb 2020 18.43 GMT 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. 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. 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. Private investment management company Blackstone acquired the accommodation provider in February in a reported £4.7bn deal . 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. 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 E: [email protected], Blackstone Press ContactsRamesh ChhabraT: +44 7810 501027E: [email protected]om, Alex Ritterman American buyout firm Blackstone is believed to be considering making an offer worth up to £4billion for university housing provider IQ 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.”. Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. If you're living in a residence provided through IQ Student Accommodation there is some good news; you automatically have access to a range of resident concierge services. 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. Kirkland & Ellis advised Blackstone on their £4.66 billion acquisition of IQ Student Accommodation from Goldman Sachs and the Wellcome Trust. 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. 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. ”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. 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. We have staff and security teams at each residence, on hand and on-site 24/7. 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. Blackstone is a global leader in real estate investing. 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