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Gatehouse Bank Closes Texas Student Housing Deal

By Phil Butler | July 19, 2011

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.

 

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The Lofts at Wolf Pen

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."

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Fahed Boodai co founder and chairman of Gatehouse Bank courtesy Arabian Business

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.

 

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Game room at the Lofts - courtesy The Lofts at Wolf Pen

Those interested may contact Gatehouse directly at +44 (0)20 7070 6000, or visit the prescribed links above.

Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
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