Paul Boomkamp, member of PGGM's Executive Board: "With this experiment we are building the pension infrastructure of tomorrow for our clients and their participants. We are pleased to be able to facilitate this development and partnership at the Smart Services Campus in Heerlen." This is good news for pension funds and their participants. By investing in smart applications, such as blockchain, we make our pension administration simpler and cheaper over time. Wim Henk Steenpoorte, member of the APG’s Executive Board: "We aim to create the maximum possible value for pension funds and their participants. Over time, the continued development of this prototype will produce a more flexible and transparent pension administration system at considerably lower costs.
The transaction is subject to approval from the relevant regulatory authorities.The two pension administration organizations will now be conducting further research with this prototype. Charlie’s vision of building a truly hybrid hospitality operating model has positioned The Student Hotel at the forefront of both hospitality and real estate trends, and TSH’s future is bright under its new shareholders’ stewardship.” The Student Hotel investment unders cores well Aermont Capital’s expertise and experience at supporting operational real estate platforms to fulfil their potential through real estate led strategies. This great journey which started with one promising project in Amsterdam turned into an unrivalled portfolio of 25 prime assets and projects across 8 countries in Europe. Vincent Rouget, Partner at Aermont Capital, said: “Since 2014, we have been the proud partners of Charlie MacGregor, The Student Hotel and its management team, and APG. We are convinced that TSH will provide an attractive long term, stable investment return for our pension fund c lient ABP, and its participants.” Together with GIC, Charlie McGregor and the rest of the TSH team we are looking forward to further expand TSH’s unique hybrid and exciting concept across Europe. We want to thank Aermont for all of its efforts over the past years, and for being a great partner. Robert-Jan Foortse, Head of European Property Investments, APG, said: “We are excited about the opportunity to increase our exposure to TSH, and to support the further growth of the platform. We look forward to partnering with TSH and APG to generate more value-add over the long term.” Anchored by purpose-built student accommodation that appeals to the student demographic, yet still catering to both business and leisure uses, this flexibility enables TSH to capture opportunities as demand patterns fluctuate throughout the year. Tracy Stroh, Region Head of Europe, Real Estate, GIC, said: “The Student Hotel’s hybrid hospitality model is unique. We are confident that this investment will generate resi lient long-term returns.” Lee Kok Sun, Chief Investment Officer of Real Estate, GIC, said: “We are p leased to invest in The Student Hotel as its assets are well-located, enjoy good connectivity to city centres and transportation networks, and are in close proximity to universities and other amenities. ”With APG and GIC’s commitments, TSH is able to accelerate 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 cur rently operational and 3 are opening in 2022, in Madrid, Barcelona and Toulo use,” said in the statement. All TSH properties offer a mixed- use campus with accommodation, bars, restaurants, gyms, retail shops, meeting and event spaces and high-profile, co-working space. TSH’s hybrid hospitality model combines student accommodation, hotel rooms, co-working and meeting spaces, bars and restaurants.įounded in 2012, TSH is headquartered in Amsterdam and has 650 employees. MacGregor and Aermont Capital entered into business in 2014 after MacGregor opened the first The Student Hotel in 2012. The deal sees APG and founder Charlie MacGregor increase their cur rent stake in TSH.