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Goldman Sachs Merchant Banking Division (Goldman Sachs) and the Wellcome Trust (Wellcome) have agreed to sell iQ Student Accommodation (iQ) to Blackstone for £4.66 billion. ASK TONY: I paid off Vodafone's debt collectors but they didn't restore my service - now they're demanding another £1,123, The great fake job scam: As 25,000 High Street workers face the axe, our troubling investigation exposes the most callous fraud of all, Fraud victims lose £14.6bn to ruthless pension scams: Latest figures show scale of the crime has been grossly underestimated, Controversial payment firm Klarna hires Silicon Valley guru Sir Michael Moritz as its chairman. Student housing has been a particularly popular bet, as students vastly outnumber the rooms available in purpose-built accommodation. Blackstone is buying iQ due to an expected surge in the student population over the next few years. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the £4.66bn sale of iQ Student Accommodation company. The takeover is thought to be the second-largest property deal ever in the UK, after the £5.8billion takeover of Songbird Estates in 2014, Goldman Sachs said. 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Overview. Discover Thomson Reuters. How much is this man to blame for the demise of Debenhams? We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we live and work. It includes a double bed, television, dining table and chairs, study desk, kitchenette with dishwasher, underfloor heating, wi-fi and bathroom. Subscribe . You must be logged in to continue. Blackstone nowadays is more than those boots from the 90's, but the elements of back then still remain in our DNA. Blackstone's takeover of IQ is expected to give it even more financial firepower to expand. According to the publication, the private equity giant may opt for a direct sale or choose to seed the over 20-property portfolio in a new trust. That has prompted a string of deals, including IQ competitor Unite's takeover of Liberty Living Group for £1.4billion last year. 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Student numbers are at an all-time high and are expected to climb. Its swish private rooms are a far cry from those that most graduates would have lived in during their university days. We are no longer accepting comments on this article. The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals. L'entreprise est basée à New York et possède des bureaux à Atlanta, Boston, Londres, Hambourg, Paris, Mumbai, Sydney et Hong Kong. One 'platinum' studio in London was yesterday going for £2,752 per month. If you click on them we may earn a small commission. Would you like to read more? Is there still time for investors to go bargain hunting and is the UK one of the places to look? 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Blackstone a été fond… Private-equity firms are betting heavily on U.K. real estate, which has lagged other western European markets since the Brexit referendum in mid-2016. Register for free to finish this article. The Blackstone Group Inc. sought the help of JLL and Rothschild as it considers the divestment of a logistics property portfolio worth more than A$700 million, which it assembled with boutique operator Fife Capital, The Australian reported. iQ was established in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. Blackstone said its private equity portfolio appreciated 12.2% in the quarter, compared with an 8.5% rise in the benchmark S&P 500 stock index over the same period. That helps us fund This Is Money, and keep it free to use. Sale is largest-ever private real estate transaction in U.K. iQ Student Accommodation has over 28,000 beds across Britain, Blackstone Buys Goldman’s Student Dorm Business in $6 Billion Deal. No comments have so far been submitted. iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and Birmingham. NS&I must listen to its loyal savers: It has delayed plans to scrap Premium Bond cheques... now its customers demand it ditches the idea for good. Blackstone is one of the world’s leading investment firms. On May 15, 2020, Jones Day clients Goldman Sachs Merchant Banking Division and the Wellcome Trust completed the sale of iQ Student Accommodation to Blackstone for £4.66 billion (US$5.73 billion), representing the largest ever private real estate transaction in the UK. Blackstone is buying London-based IQ from Goldman Sachs and the Wellcome Trust as demand for university accommodation surges in response to the growing number of students. How to invest for high income and avoid dividend traps, How to find shares with dividends that can grow: Troy Income and Growth manager, Blue Whale manager: 'We want companies that grow whatever happens', How biotechnology investors can profit from an ageing population and the future of medicine. Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. or debate this issue live on our message boards. Rob Roger, CEO of iQ Student Accommodation, said: “I am delighted to be working with a partner of Blackstone’s calibre, as we continue to deliver our ambitious growth plans. Most of Blackstone’s investment is being made on behalf of its 10 billion-euro Blackstone Real Estate Partners Europe VI fund, said the person, who asked not to be identified because the information is private. VICTORIA BISCHOFF: If NS&I axes cheques, what's to stop other banks from following suit? How to invest to beat inflation: A global fund manager's tips, MIDAS SHARE TIPS: Back Greensleeves care homes bond, and follow in the footsteps of a very famous supporter - HM Queen, MIDAS SHARE TIPS UPDATE: Cream cake shops Cake Box serve up a lockdown profit treat, MIDAS SHARE TIPS: Are you looking to get rich and help people? Property firms have turned to Britain's budding build-to-rent sector as traditional home building and selling falters. Blackstone's shares were down 2.9% in afternoon trading, in line with the broader market. Blackstone Group Inc. posted slightly higher net earnings for the third quarter as its focus on technology-related investments helped its private-equity portfolio rise above already buoyant broader markets. About half of the portfolio is located in London, with the remainder spread across cities and university towns that are home to the U.K.’s top academic institutions. Save. Where can investors look for shares that will benefit from a coronavirus recovery? By Jessica Newman 2020-05-15T15:24:00. We do not allow any commercial relationship to affect our editorial independence. ”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. Back Neal Gandhi's tech revolution with The Panoply, MIDAS SHARE TIPS UPDATE: Annoying emails drive a profit surge at Dotdigital with customers including the NHS, MIDAS SHARE TIPS: It can pay to be a patriot! “This acquisition is a continuation of our strategy to invest in high-quality assets and businesses in the U.K. and testament to our long-term belief in the U.K.,” James Seppala, Blackstone’s head of real estate in Europe, said in the statement. Before it's here, it's on the Bloomberg Terminal. Many have private bathrooms or kitchens, and facilities include gyms, games rooms, private cinemas and luxury community areas. Have a confidential tip for our reporters? Subcategories. By Daily Mail City & Finance Reporter. US buyout firm Blackstone rumoured to be preparing a £4bn offer for IQ Student Accommodation. En juin 2007, l'entreprise a fait une entrée record dans la Bourse de Wall Street, toutefois en dessous des attentes, avec une capitalisation de 4 000 000 000 USD. Big grocers hand back tax breaks: Tesco agrees to pay £585m then Morrisons says it will return £274m - but will others follow? Updates with detail on deal starting in sixth paragraph. Why not be the first to send us your thoughts, Parent Organization . Some links in this article may be affiliate links. Blackstone has agreed to buy IQ Student Accommodation from Goldman Sachs for £4.7bn, in the UK’s largest private real estate transaction. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. It’s also the latest in a series of substantial U.K. real estate investments for the alternative asset manager that include a large portfolio of railway arches and a low-income housing business. SRLN has around 753.4K shares in the U.S. ETF market. 05 mars 2020 International law firm Gowling WLG has advised Blackstone, the private equity firm, on the acquisition of UK student accommodation company IQ from Goldman Sachs. Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. The iQ deal follows media reports on Tuesday that Blackstone will use money from a $14 billion Saudi-backed infrastructure fund to invest in Britain. The iQ deal follows media reports on Tuesday that Blackstone will use money from a $14 billion Saudi-backed infrastructure fund to invest in Britain. How to invest through a crisis like coronavirus and protect your money? iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. MIDAS SHARE TIPS UPDATE: There's gold in them thar SCOTTISH hills with Scotgold! The Wellcome Trust, a charitable foundation established with the legacies from the pharmaceutical magnate Sir Henry Wellcome, was among the founding investors of iQ in 2006. Britain is the second-largest market for rooms outside North America, with about 140 universities attended by 2.4m undergraduates and post-graduates. Blackstone Group . Scottish Mortgage's Tom Slater on how the growth star investments, 'It's a vast area of change': We meet a food fund manager. Providing Financial Security. The University of Edinburgh, where Blackstone is acquiring student accomodation US-based private equity group Blackstone has agreed to buy IQ Student Accommodation, which is … Summary. It has prompted estate agent Knight Frank to recently value the sector at a staggering £50billion. IQ was started in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. A substantial proportion of the 77 existing properties are also in need of refurbishment, according to a person with knowledge of the matter. 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