Gatehouse secures US student housing portfolio "Republic"
Gatehouse Bank net USD half billion in real estate for GCC investors
- Gatehouse secures Class A student properties near major universities in Texas, USA
- GCC investors gain 7.0% net cash yield return
Known as The Lofts at Wolf Pen Creek, the uniquely designed 310,422 sq ft property comprises 265 one, two, three and four bedroom loft-style flats and townhouses containing 683 beds, distributed among several buildings, most of them connected to one another to form an upscale resort-style community. Amenities include a 13,600 sq ft clubhouse, a theatre with stadium seating; an internet café and media centre; a business/study centre; two swimming pools; and a 24-hour fitness centre.
The property is minutes away from Texas A&M University, which is one of the largest in the United States. The Southwest and Southeast regions together account for almost 32% of all U.S. student enrolments and are one of the fastest growing regions nationwide. As a result, there is a significant demand for living space. Last year in the U.S. transaction volume in the student housing sector increased 250% in comparison to 2009 levels and there is a very real opportunity for investors looking to tap into this yield-generating growth sector.
To meet continuing demand for high quality real estate prospects, Gatehouse provides leading advice and opportunities, as well as detailed research and sector analysis, to investors across major international markets including the UK, Europe, Asia and the US. This latest transaction follows the acquisition of two earlier student accommodation properties in the UK, and brings the total value of Gatehouse Bank’s global real estate portfolio to in excess of $370million.
Gatehouse Bank has announced that it is teaming up with a leading cash deposit platform, Flagstone, in a partnership that will see the Bank’s highly competitive savings products promoted to Flagstone clients.
Gatehouse Bank has launched its first apprenticeship scheme, with six A level students taking the first step in their career in Financial Services and joining the Shariah-compliant challenger bank.
- Best and worst savings accounts are whopping 1.76% apart on average
- Savers with a £5,000 nest egg stand to lose more than £450 over five years
- But for the average UK saver that rises to £465 EVERY YEAR