IQ Student Accommodation
| Company type | Private |
|---|---|
| Industry | Student housing, Real estate |
| Founded | 2016 |
| Headquarters | United Kingdom |
Area served | United Kingdom (London, Manchester, Edinburgh, York, Bath, Brighton, Nottingham) |
Key people | Penny Hughes (Chairperson), Rob Roger (CEO) |
| Products | Student accommodation |
| Owner | Blackstone |
IQ Student Accommodation operates as a UK-based provider specializing in student housing, delivering contemporary, all-inclusive living spaces in prominent university cities including London, Manchester, and Edinburgh. The company is under the ownership of Blackstone, recognized as one of the globe’s foremost real estate investment entities.
History
The formation of the company dates back to 2016 when the Wellcome Trust combined its student accommodation operations with Prodigy Living, an enterprise owned by Goldman Sachs and Greystar Real Estate Partners.
In December 2017, IQ expanded its portfolio by purchasing Pure Student Living from LetterOne Treasury Services for £869 million, integrating 11 locations situated in London, Edinburgh, York, Bath, and Brighton.
As of February 2018, IQ managed 66 student residences encompassing 28,000 bedrooms and was valued near £3 billion. It holds the position as the largest UK provider of purpose-built student accommodation by market value and ranks second in terms of bedroom count (following Unite Students), boasting the most extensive London collection with 6,700 rooms spread over 15 sites.
That same month, Penny Hughes was appointed as chairperson alongside CEO Rob Roger.
In June 2019, IQ revealed intentions to develop a co-living project in Manchester, representing its inaugural venture beyond solely student housing within the city.
Blackstone agreed to acquire IQ in February 2020 for £4.66 billion, marking the largest private real estate deal in the UK; this transaction was finalized in May 2020.
Most recently, in April 2023, IQ broadened its holdings by purchasing a 522-bed student residence in Nottingham from the Jensco Group for £68.12 million (€77.4 million).