• Loan provided by Wells Fargo to refinance Yugo Highfield Park and Yugo Dominick Place in Dublin
• GSA’s first transaction with Wells Fargo in Europe, building on an existing strong relationship in the U.S.
• Demonstrates the attractive characteristics of the student housing sector and GSA’s global expertise

Global Student Accommodation (“GSA” or the “Company”), the global leader in student housing, announces that it has refinanced two Dublin assets owned in joint venture with long-term partner Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets, with a loan provided by Wells Fargo. This is GSA’s first transaction with Wells Fargo in Europe and builds upon the existing strong relationship with the bank in the U.S.

Yugo Highfield Park (pictured right) and Yugo Dominick Place are market-leading purpose-built student housing assets in prime locations in Dublin. Yugo Highfield Park, which opened in 2020, provides campus style accommodation with a broad range of town houses, cluster apartments and twin rooms, and with dedicated amenities including a basketball court and multi-purpose common areas. Yugo Dominick Place opened in 2019, providing city center living with facilities including a gym, games room, roof terrace and cinema room.

Commenting on the refinancing, John Jacobs, Global Head of Capital Markets at GSA said:

“I am delighted to have completed our first transaction with Wells Fargo in Europe. It represents an important step in optimizing our capital structure, demonstrating the quality of these assets, GSA’s reputation amongst leading lenders, and the strength of the sector. I look forward to continuing to work closely with them on both sides of the Atlantic.

“As Ireland’s largest provider of private student housing, the market remains central to our strategy, exhibiting robust fundamentals driven by leading universities, growing student numbers and significant demand for quality, purpose-built student housing.”

Nicola Free, Head of CRE, EMEA, Wells Fargo, added:

“Wells Fargo are delighted to continue to support GSA and Harrison Street with their financing needs and to strengthen the global relationship.”

Dublin is one of the leading cities globally for higher education and home to over 91,000 students. GSA’s properties serve world renowned universities including Trinity College Dublin, University College Dublin, the Royal College of Surgeons in Ireland, and Technological University Dublin.

Since entering the market over a decade ago, GSA has developed or acquired over 3,500 beds across Dublin and Cork and are the largest provider of student housing in the country.  The Irish market continues to exhibit exceptional fundamentals as the only English-speaking country in the EU, with a growing domestic and international student base.