Safanad U.S. student housing investment platform now at US$800 million and 11,000 beds following the acquisition of 910-bed student community in Maryland
Source: PRNewswire , Author: Posted by BI-ME staff
Posted: Thu February 1, 2018 10:38 am

NEW YORK. -- /PRNewswire/Asianet-Pakistan -- Safanad Limited ("Safanad"), the global principal investment firm, and Vie Holdings, a US-based real estate investment company specializing in student and multifamily housing, today confirmed the acquisition of The Towers at University Town Center, Maryland.

Safanad led the $69.5 million transaction, its second with Vie Holdings, primarily deploying capital from its own balance sheet to bring forward an attractive opportunity for US, GCC and Asian private and institutional investment partners.

The firm's strategy is to identify and actively manage stable value-creation opportunities in sectors that are underpinned by long-term trends and market displacements to grow its strong and diversified baseline portfolio.

A $5 million renovation program will commence immediately to enhance the living experience with new rooftop finishes, expanded services, upgraded units and potentially additional facilities.

Chris Aiken, Senior Director of Real Estate at Safanad, said: "We are seeing a consistent increase in demand for purpose-built and well-managed student housing as US and international students expect high quality and lifestyle-led accommodation. Demand is compounded in locations where there is undersupply of on-campus housing and growing student populations.

Aiken added: "In the case of The Towers, we already have great housing that is well connected and surrounded by entertainment options. Our priority is to support the management and initiate an upgrade program to further improve the living experience and create greater value for our investors."

The Towers student housing community consists of two 16- & 17-story buildings of two, three and four-bedroom homes. Located just minutes' walk from two metro lines and 7 miles from the center of Washington, D.C., it meets demand from students attending nearby Howard University and the University of Maryland and other universities and colleges in the Washington, D.C. metropolitan area.

It is surrounded by popular restaurants and nightlife and has extensive amenities including a fitness center, rooftop pool, spa, dining services and a large study lounge to provide convenient and sociable student living.

A principal global investment firm, Safanad deploys its own capital as a lead investor with the support of its investment partners and private and institutional clients.

The firm's priority sectors to date include healthcare, education, student housing, suburban offices, automotive technology, data centers and retail operations. Inclusive of this transaction, Safanad currently owns or controls over $9 billion in real estate and private equity assets worldwide.

Photo Captions:
1. (above)   Safanad logo
2. (inset)     Kamal Bahamdan, Chief Executive Officer and Founder of Safanad (File photo)

About Safanad
Safanad is a global principal investment firm that targets opportunities in economic sectors underpinned by long-term trends and market displacements.

As a principal investor, Safanad utilizes its capital, expertise and exceptional management partners to preserve and grow wealth for the firm and its Asian, GCC and US private and institutional clients.

Priority sectors across Safanad's real estate and private equity divisions include healthcare, education, student housing, suburban offices, automotive technology, data centers and retail operations.

Safanad has offices in New York, Washington, D.C., Dubai and London. For more information, visit www.safanad.com

About Vie
Vie is a lifestyle brand focused on Creating Inspired Lifestyles for residents in student and multifamily housing.
Headquartered in Miami, FL, Vie owns and manages properties located in or around some of the top universities, largest military bases and emerging markets in the country.

For more information, visit http://www.viemgmt.com/

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 21, 2018
UAE. Analysts to explore AI developments and influence on businesses at the Gartner Symposium/ITxpo 2019, March 4-6 in Dubai, United Arab Emirates.
date:Posted: September 20, 2018
UAE. Research from Aruba and Ponemon Institute shows security teams view Machine Learning and network visibility for users and IoT devices essential for battling stealthy threats inside IT infrastructures.
date:Posted: September 19, 2018
UAE. Few are confident in spotting security risks and vulnerabilities in DevOps operated public cloud environments.
dhgate