NEWTOWN SQUARE, PA - GMH Capital Partners announced an exclusive student housing investment agreement with AGC Equity Partners. The Partnership will together aim to acquire existing Core and Value-Add properties as well as develop student housing assets across the United States via the investment fund raised with AGC's investor pool and GMH's capital commitment.
AGC has strong belief in student housing as a long term institutional asset class given the strong fundamentals of the market, and recognized the need to work alongside a partner with a superior track record in the sector to achieve security of income and growth potential.
AGC identified GMH as one of the nation's leading owners, developers and property managers of high-quality, purpose built student housing assets in the United States. GMH has a proven and seasoned track record in the sector spanning nearly 33 years.
GMH was seeking an exclusive institutional platform partner sharing its long term strategy in the student housing market. GMH and AGC shared the desire for an exclusive partnership targeting varying return levels based on investment strategy and risk profile.
The first phase of the strategic partnership is targeting to acquire and develop student accommodation assets over the next 18 months. The fund has already broken ground on its first property in San Luis Obispo, Ca, with two other California developments in its development pipeline, while pursuing several other existing Core and Value-Add assets in its acquisition pipeline.
"We are excited to be partnering with AGC and for the ability to bring international capital to the student housing sector. They share the same enthusiasm for student housing and its future growth," said Gary Holloway Jr., President of GMH.
GMH's student housing division, GMH University Housing, will manage the assets owned with AGC.
GMH University Housing is the student housing management division of GMH. GMH University Housing draws on over 33 years of experience in managing student housing assets across the nation, spanning over 35 states and accounting for over 85,000 beds owned and/or managed.