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Blackstone carried out largest British operation for €5,6B
27 February 2020 | Vanessa Sousa

American Blackstone carried out what is already considered to be the largest transaction ever on British soil, the purchase of student residence management company IQ for 5,6 billion euro (4.7 billion pounds).

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This deal was closed with Goldman Sachs, which owned 70% of the brand and with Welcome Trust, which controlled 28%. This management company currently operates 67 student residences spread across several cities of the United Kingdom, reported the Financial Times.

For James Seppala, Blackstone’s head of European real estate, «British higher education is globally renowned and we are delighted to invest meaningful capital to support IQ’s further growth».

Despite the alternative segment student housing being the current trend in Iberia, the American giant has not carried out any operation of this type in the region yet. On the other hand, the company did carry out 9 operations, investing 175 million euro in equal parts on the office and logistics segments.