Blackstone bets big on Boris British housing hedge

Blackstone is buying iQ Student Accommodation from Goldman Sachs for $6 billion. It’s a play not on Brexit, but rather on the continuing global allure of a proper English education, says KarenKKwok

Blackstone, the U.S. private equity group, agreed on Feb. 26 to pay 4.66 billion pounds for UK-based iQ Student Accommodation, which was owned by a Goldman Sachs merchant banking unit and medical charity Wellcome Trust.

A statement from iQ said that it is the largest-ever private real estate transaction in the UK and is subject to regulatory approval. The student accommodation company owns and manages more than 28,000 beds across Great Britain, with assets mostly concentrated in London, where iQ is the largest owner of student accommodation.

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