**Global Student Accommodation Secures $500M Refinance on U.S. Portfolio**
London-based Global Student Accommodation (GSA) has closed a $500 million senior loan facility with Wells Fargo Bank, reinforcing its growing presence in the U.S. student housing market. The refinancing deal strengthens GSA’s existing relationship with Wells Fargo and highlights ongoing lender confidence in the U.S. student housing sector.
The financing covers 23 properties located in key university cities across 14 states. Since entering the U.S. market in late 2020, GSA has expanded its domestic portfolio to 43 properties in 32 cities.
“Over the past year, GSA has closed over $1 billion of 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, Columbia, South Carolina.
