The deal sees APG and founder Charlie MacGregor increase their current stake in TSH. APG first invested in TSH in 2015. MacGregor and Aermont Capital entered into business in 2014 after MacGregor opened the first The Student Hotel in 2012. GIC now joins as a new investor.

APG and GIC’s commitments will support TSH in accelerating 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 currently operational and 3 are opening in 2022, in Madrid, Barcelona and Toulouse.

The Loyens & Loeff advisory team was led by partners Antoinete van der Hauw (Corporate/M&A) and Bartjan Zoetmulder (Tax).