REAL ESTATE
RESIDENTIAL | COMMERCIAL | MEDICAL OFFICES | STUDENT HOUSING
RESIDENTIAL
GFH MEDICAL OFFICES PORTOFOLIO*
The Portfolio is a collection of c. 1 million square feet of medical office space across eleven properties in Texas, California, Maryland and Louisiana. With an average age of 2010, the Portfolio is presently 90% leased with c. 7 years of weighted average remaining lease term. The Portfolio is anchored by investment-grade credit tenancy through Baylor Scott & White (Moody’s Aa3), Texas A&M Health Science Center (Fitch: AAA), Texas Tech University ( Fitch AA+), Memorial Hermann (S&P: A+) and Tidal Health (Moody’s:Aa3). Medical Clinics/ Medical office buildings (“MOB”) are office facilities designed specifically for health care practices. They are typically located in close proximity to a hospital and are often leased on a ground lease basis to those hospitals. They are focused on ambulatory care (No Admission) including consultant clinics, diagnostic centres and minor surgeries. MOBs are developed specifically for tenants in the medical field to consult with patients and perform various surgical procedures. This asset class has exhibited consistent growth in recent years, buoyed by increased demand for outpatient services and strong historical performance. This growth is supported by an aging population and higher healthcare spending. MOBs typically exhibit occupancy rates of above 90%. The strength of MOB occupancy rates is partly due to the length of leases that medical tenants typically sign. The physical features of MOBs are very specific including predefined specifications for operating rooms and waiting rooms which often makes the build-out more costly than that of a traditional offices. Medical tenants typically sign longer leases for this reason. Tenants also tend to stay put longer given the high switching costs associated with relocating.
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*Investment made through a private placement fund
US Student Housing Portfolio III*
The student housing market in the United States refers to residential properties specifically designed to accommodate college and university students. Purpose-built student housing is an apartment community designed for students in higher education. These communities offer amenities tailored to college students’ needs, such as common area amenities, game rooms, sports facilities, study areas, fully furnished units, and roommate matching. The preference typically is focused on accommodation located within close proximity to campuses and colleges.
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1. Demand: The demand for student housing is accelerating, this is mainly driven by the growing population which in turn
increases enrollments of colleges and universities, furthermore, as more students seek higher education, the need for suitable accommodation is also key.
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2. Types of Housing: Student housing options include on-campus dormitories, off-campus apartments, shared houses, and purpose-built student housing (PBSH). PBSH is becoming increasingly popular due to its modern amenities, dedicated study spaces, and social activities. Student housing often offers amenities tailored to student needs, such as furnished rooms, Wi-Fi access, study areas, fitness centers, social lounges, and laundry facilities. PBSH complexes may have additional features like game rooms, theaters, and outdoor spaces.
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3. Location: Student housing is typically located near colleges and universities to provide convenient access to campus facilities. However, off-campus options are also prevalent, offering students more choices in terms of location and amenities. Facilities that are within walking distance, typically within less than 1 mile, are of preference to avoid the hassle of transportation and commuting between campus and accommodation.
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4. Market Rental Rates: Rental rates for student housing can vary depending on several factors like location, amenities, and proximity to campus. Some areas with high demand and more facilities could experience increased rental prices whereby off-campus housing can provide more affordable options.
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*Investment made through a private placement fund
