Global Student Accommodation (GSA) Group, the London-headquartered student housing operator, developer and investor, has appointed Victor Lor as Asia Pacific head of investment management as the firm looks to expand its presence in the region.
In his new role, Lor will be leading GSA Group’s Asia Pacific fund management, capital raising and partnerships, business development and investor relations divisions.
In a statement announcing the appointment GSA said increasing student mobility and creation of new wealth in Asia are factors driving the demand for university education and student accommodation, whereas the supply of professionally managed properties near universities has been lagging behind.
“With over 100 million more students coming into higher education over the next ten years, there is a very urgent requirement for more purpose-built student accommodation,” said Simon Loveridge, managing director, GSA Group Asia Pacific. “GSA develops, manages and invests in best in class university student communities globally. We aim to make a real difference to students’ lives by drawing on our long-term track record, expertise and knowledge of the sector to deliver the best culturally led student living experience.”
Lor comes with more than 18 years of private equity real estate and investment banking experience across Asia. Prior to joining GSA, he was the founder and principal of VB Capital Asia, a real estate corporate finance and advisory firm. In the past, Lor has also held senior positions at the Dutch pension firm APG Asset Management and UBS Investment Bank Asia.
“I am excited by the opportunity to lead the Investment Management team for GSA Group in Asia,” said Lor. “We are employing a disciplined investment process supported by industry-leading market intelligence to produce superior returns for our investors ensuring GSA is the first choice partner for capital into global student accommodation.”
GSA Group was founded in 2008 by Nicholas Porter. Globally, GSA has raised over $3 billion from institutional investors and built around 40,000 study bedrooms. The firm has offices in London, Tokyo, Dubai and Hong Kong.
In September this year, GSA Group received planning permission to develop its first student accommodation property in the South Inner city in Dublin, a 400-bed student development project launched as a partnership between GSA and The Creedon Group, an Ireland-headquartered property investment and management firm.