GIC, APG Acquiring Stake in the Student Hotel
Singapore sovereign investor GIC and Dutch pension fund manager APG have agreed to acquire what they term a “substantial” stake in Amsterdam-based The Student Hotel, in a deal valuing the hybrid student hostelry operator at €2.1 billion ($2.2 billion).
TSH’s properties combine student housing, hotel rooms, co-working/meeting spaces, and food and beverage under one roof. APG holds an existing stake in the company alongside its founder, Scottish businessman Charlie MacGregor, and fund manager Aermont Capital, a Europe-focused offshoot of New York-based Perella Weinberg Partners.
Under the terms of