GIC and APG’s Joint Acquisition of a Stake in The Student Hotel

Freshfields Bruckhaus Deringer has advised GIC and APG on the deal.

GIC and APG agreed to acquire a substantial stake in The Student Hotel (TSH), and commit to invest to fuel further expansion for the hybrid hospitality leader, subject to customary regulatory approvals. The transaction values TSH, including assets currently under development, at €2.1 billion.

The deal sees APG and founder Charlie MacGregor increase their current stake in TSH. APG first invested in TSH in 2015. MacGregor and Aermont Capital entered into business in 2014 after MacGregor opened the first The Student Hotel in 2012. GIC now joins as a new investor.

APG and GIC’s commitments will support TSH in accelerating its growth strategy to expand into key European cities and grow its presence to 50 hotels from 25 hotels under ownership today, of which 15 are currently operational and 3 are opening in 2022, in Madrid, Barcelona and Toulouse.

The Freshfields advisory team was led by partners Victoria Hills (Picture – Real Estate) in London, and Harald Spruit (Corporate/M&A) and Bob van Kasteren (Tax) in Amsterdam.

Involved fees earner: Victoria Hills – Freshfields Bruckhaus Deringer LLP; Harald Spruit – Freshfields Bruckhaus Deringer LLP; Bob van Kasteren – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: APG ; GIC Private Limited;

Giulia Di Palma

Author: Giulia Di Palma