Thrive Student Living by Growthpoint is opening new doors

Building on its trusted range of student residences designed to enhance the university experience and academic success, the new properties increase Growthpoint Student Accommodation REIT’s purpose-built upscale student accommodation portfolio to 7,200 beds. Its 2023 portfolio includes 10 residences serving tertiary education students in three cities across South Africa.

It has also launched Thrive Student Living by Growthpoint, a growing student accommodation platform and programme, instantly recognisable wherever it is found nationwide.

“Thrive Student Living offers a new perspective on learning and living, devoted to academic success, personal growth, safety and community – creating environments where students can thrive. It is committed to supporting tomorrow’s leaders to reach their full potential,” says George Muchanya, Head of Growthpoint Investment Partners, manager of Growthpoint Student Accommodation REIT.

Growthpoint Student Accommodation REIT leverages the skills and expertise of leading South African international property company Growthpoint Properties, with local purpose-built student accommodation pioneers Feenstra Group, to provide accommodation that is not only purposely designed for student life but also purpose-managed to provide a more successful, supportive and satisfying university experience.

All elements of the student experience are considered from the welcoming, upmarket physical accommodation infrastructure to social and environmental factors such as communal space, on-site amenities like Wi-Fi and computer labs, and safety and security. They also offer 24/7 support from friendly Student Life Managers, provide a strong bridge between the academic faculty and the student’s home base, and have a year-round calendar of programmes and events.

All this is blended into Thrive Student Living, which is uniquely designed to enhance the university experience through an immersive campus lifestyle with comprehensive academic support and a fun range of cultural, social, sporting, well-being, career and supporting activities.

“More than premium student accommodation with easy access to classes, Thrive Student Living is designed to foster inclusive learning communities for achieving academic success, and also for students to get the most out of campus life and make great memories,” explains Muchanya.

Because learning isn’t one-size-fits-all, there are various Thrive Student Living options suited to a wide range of private and NSFAS students. Thrive Student Living environments are also the natural choice for corporate bursary programmes invested in the positive educational outcomes of their bursary recipients. They are managed to the high standards of JSE-listed Growthpoint, which takes seriously its duty of care for the people who use its buildings and is active in initiatives for quality education access across the entire education value chain as part of its transformative corporate social responsibility.

Growthpoint Student Accommodation REIT is not only opening new doors for students but has opened up a new opportunity for investors, and specifically impact investors, to access the defensive, alternative student accommodation asset class with strong fundamentals and proven resilience.

Since launching in December 2021, it has raised R1.4bn in equity, including Growthpoint’s co-investment of R240m, and continues to attract solid investor interest. Growthpoint Investment Partners has appointed a dedicated Fund Manager of Growthpoint Student Accommodation REIT, Amogelang Mocumi.

Its portfolio of 7,200 beds for the 2023 university year is valued at some R3bn.The properties include Burnett Studios, Hatfield Studios, Festival Studios, Varsity Studios, Kingsway Place, The Richmond and Central Studios. Each Thrive Student Living residence is an inclusive community for learning located a short walk from its university campus. While part of a national network of student accommodation, each has its own identity and character, unique to and created by its community.

Its three newest properties, Peak Studios, Brooklyn Studios and Apex Studios, are being developed by Growthpoint Properties and Feenstra Group. Growthpoint Properties is recognised for its green building leadership, creating healthy, sustainable environments and operating with a social consciousness that adds value to communities. Fashioning vibrant campus communities aligns with Growthpoint’s ESG goals.

“With Growthpoint Student Accommodation REIT expected to achieve significant growth towards a national tertiary education footprint with prime tailor-made new developments for which there is a great demand, its positive impacts go beyond education and ultimately boost job opportunities, municipal revenues and communities,” confirms Muchanya.

Growthpoint Investment Partners is a leading alternative real estate co-investment partner with more than R15bn of assets under management. It has a growing portfolio of niche, themed property co-investments to date that include South African healthcare properties in Growthpoint Healthcare REIT, income-generating African commercial properties (excl. RSA) in Lango Real Estate and South African purpose-built student accommodation in Growthpoint Student Accommodation REIT. These co-investments have positive, long-term socio-economic impacts, and are all subject to excellent governance and sustainability oversight frameworks.

ABOUT GROWTHPOINT PROPERTIES

Growthpoint creates space to thrive with innovative and sustainable property solutions in environmentally friendly buildings while improving the social and material wellbeing of individuals and communities. It is an international property company invested in real estate and communities across South Africa, Africa, Australia, Poland, Romania and the UK, and South Africa’s largest primary JSE-listed REIT. Growthpoint is 50% co-owner of the V&A Waterfront in Cape Town. It is an established leader in commercial green developments and owns and manages the biggest portfolio of green-certified buildings in Africa. Visit growthpoint.co.za for more information, and connect with Growthpoint on Facebook, Twitter, LinkedIn and YouTube.

Growthpoint Properties Limited

Nadine Briers

Head, Marketing & Communication

Tel: +27 (0) 11 944 6251

For more information or to book an interview, kindly contact Bronwen Noble on 083 453 6668 or email bronwen@catchwords.co.za.