The refinancing brings BoI\u2019s total funding in the student accommodation sector to more than \u20ac700m, which has supported the delivery of over 7,000 beds nationwide, it said,<\/p>\n
The bank said its investment plays a role in expanding dedicated student housing, a component of Ireland\u2019s social infrastructure, while also contributing to easing pressure on the wider residential market.<\/p>\n
The transaction underlines the bank\u2019s continued involvement in the sector, according to Brian Gaffney the head of residential and development finance at BoI.<\/p>\n
\u201cThis latest transaction marks 10 years of partnership with GSA and reflects our continued commitment to the student accommodation sector,\u201d he said.<\/p>\n
\u201cPurpose-built student housing plays a vital role in easing pressure on the wider residential market, while also supporting Ireland\u2019s third-level education system, a key pillar of national competitiveness.\u201d<\/p>\n
GSA entered the Irish market in 2015, when BoI financed its first development, a 400-bed scheme at New Mill in Dublin 8.<\/p>\n
The company now manages about 4,000 student beds across Dublin and Cork.<\/p>\n
GSA operates internationally as an investor, developer, and asset manager of purpose-built student accommodation (PBSA) in 11 countries across Europe, North America, and the Asia-Pacific region, it said.<\/p>\n
Bank of Ireland have been a great supporter of GSA since we entered the Irish market<\/p>\n
The backing by the BoI is central to the company\u2019s Irish operations over the last decade, according to John Jacobs, the global head of capital markets at GSA.<\/p>\n
\u201cBank of Ireland have been a great supporter of GSA since we entered the Irish market a decade ago,\u201d Mr Jacobs said.<\/p>\n
\u201cTheir commitment and confidence in our vision have been instrumental in helping us establish ourselves as the largest owner of purpose-built student accommodation in Ireland.\u201d<\/p>\n
Kavanagh Court, with its offering of over 600 beds, is located in Dublin\u2019s city centre and is a prime location for students, as it is walking distance from many of the major educational institutions in the city.<\/p>\n
With the current partnership, GSA has been able to deliver high-quality student accommodation and plans to continue this with the bank\u2019s support, Mr Jacobs added.<\/p>\n
\u201cTogether, we\u2019ve been able to deliver high-quality, much-needed housing for students in the country, and we look forward to continuing this successful relationship,\u201d he said.<\/p>\n
BoI said it remains committed to supporting further expansion in the student accommodation sector in partnership with operators such as GSA.<\/p>\n","protected":false},"excerpt":{"rendered":"The refinancing brings BoI\u2019s total funding in the student accommodation sector to more than \u20ac700m, which has supported…\n","protected":false},"author":2,"featured_media":79541,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7863,72,807,61,60,38532],"class_list":["post-79540","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bank-of-ireland","tag-business","tag-housing","tag-ie","tag-ireland","tag-rory-mcginn"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/79540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=79540"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/79540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/79541"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=79540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=79540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=79540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}