GSA Group grabs Melbourne University college
GSA Group, one of the nation’s largest providers of student accommodation, has swooped on Melbourne’s Whitley College, in its second deal this month.
The 130-bed student accommodation facility in Parkville was reportedly worth as much as $20 million and the deal marks a strong return to buying by GSA.
The apartments are close to the University of Melbourne, which will maintain the tenancy until the end of next year.
GSA has developed Urbanest, whose rollout is being funded by US investor the Washington State Investment Board.
Whitley College sits on almost 4900sqm of prime land in Parkville.
GSA Australia’s head of real estate Jon Whittle says the company is keen to buy more property and would upgrade the Whitley College site.
“We continue to see the strong fundamentals in the student accommodation sector across the region and will continue to expand our portfolio in the coming months,” he says.
This article originally appeared on www.theaustralian.com.au/property.
