In international commercial investing news, Gatehouse Bank, the UK subsidiary of Securities House Kuwait, announced today the purchase of a 265 apartment student property in Texas valued at $50 million. According to the news, this is the first student real estate the company has acquired, but similar deals in the UK and elsewhere have proven successful.
The Texas A&M University property currently has a 98 percent occupancy rate, and the projected revenue is set at 7 percent, according to the company's press. The Lofts at Wolf Pen Creek deal saw the partnering of Gatehouse with Chicago's Scion Group, in what Scion President Robert Bronstein called an opportunity to; "maximize the potential of The Lofts at Wolf Pen Creek."
Earlier this year, Gatehouse acquired a Glasgow Rolls Royce facility as well as the InterContinental Hotels Group Global Headquarters in Denham, Buckinghamshire. The firm, now headed by veteran Richard Thomas OBE, is rapidly becoming an international player for key investments. Gatehouse partners include GNL Insurance, and GSH Kuwait.
Those interested may contact Gatehouse directly at +44 (0)20 7070 6000, or visit the prescribed links above.