**Global Student Accommodation Secures $500M Refinancing for U.S. Portfolio**
London-based Global Student Accommodation (GSA) has secured a $500 million senior loan facility from Wells Fargo Bank, further bolstering its growing footprint in the United States. The company stated that this refinancing deal not only strengthens its partnership with Wells Fargo but also highlights the continued confidence lenders have in the U.S. student housing market.
The new facility encompasses 23 student housing assets located in major university cities across 14 states. Since entering the U.S. market in late 2020, GSA has rapidly expanded its presence and now manages a total of 43 properties across 32 cities nationwide.
“Over the past year, GSA has closed over $1 billion in financing facilities globally, enabling us to optimize our capital structure and recycle capital into value-add initiatives across our portfolio,” said John Jacobs, Global Head of Capital Markets at GSA. “This latest refinancing will facilitate both expansion within the U.S. market and an ongoing program of refurbishments. This includes initiatives to improve the energy efficiency of the portfolio and further support for students’ well-being.”
Pictured: Yugo Columbia Lofts, a GSA student housing property in Columbia, South Carolina.
