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Global Student Accommodation has obtained $500 million for the refinancing of a 23-asset student housing portfolio across the U.S. Wells Fargo Bank provided the senior loan facility.

The deal strengthens the company’s long-term growth strategy to expand within the U.S. market and upgrade the properties.

The student communities are spread across 14 states serve Tier One institutions such as Arizona State University, Purdue University, Auburn University and University of Illinois. GSA’s partner Yugo is their property manager.