SFO is pleased to announce that it has completed the acquisition of Gateway On Cullen (“Gateway”), its fourth student housing community comprising of 531 beds located in Houston, Texas.
Built in 2017, Gateway is located in downtown Houston, less than a five-minute walk from the University of Houston, the city’s flagship university with a total enrollment of over 44,000 students. Gateway is the newest among a handful of off-campus student housing properties offering the highest level of amenities and benefiting from a very favorable supply/demand imbalance.
With this latest acquisition, SFO has expanded its student accommodation portfolio to 2,270 beds located across four US cities namely Lexington (KY), Denton (TX), Gainesville (FL) and Houston (TX).
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “Student housing remains among our favored asset classes in the USA where the market remains highly fragmented and undersupplied, representing an opportunity for consolidation. We will continue ramping up our student housing portfolio targeting well-located properties next to growing and well-established universities.”
SFO Group (“SFO”), recognized as the Best Real Estate Investment Company at the World Finance awards 2018, is an independent multi-family office with a focus on global real estate investments. With more than USD1.6 billion of assets under management, SFO has a proven reputation for successfully identifying, acquiring and managing high quality assets. SFO has a significant and growing pipeline of real estate acquisitions in Continental Europe and the USA.
SFO is a member of Saradar Capital Holding, a diversified family conglomerate that has been at the center of the Lebanese financial sector for over 70 years.