reports
Sid Rajeev
- Sid Rajeev
GEC’s Pure-Play Pivot: Exits Education, Doubles Down on Student Housin...
Fundamental Research resumes coverage on GEC after a two-year pause. GEC divested Sprott Shaw College for $35M, achieving a 517% ROI, and is now a pure-play student housing company. With a $30M+ revenue run rate, its portfolio includes 14 Vancouver buildings (4,200 beds, $1.4B value). Operating projects generate ~$14M NOI; development projects could add $48M NOI. Despite immigration challenges, low vacancies (
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