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ATLANTA-Locally based Place Properties LP and Chicago-based Blue Vista Capital Management LLC have added $75 million to an already established fund, raising the fund's total from $205 million to $280 million. With the fund, officials expect to create a portfolio of at least $925 million in student housing properties through acquisition and development.

The most recent investments under the fund are the $14-million acquisition of Allston Place in Berkeley, CA, which serves the University of California-Berkley, and the $18-million acquisition of Campus Place in Fresno, CA which serves California State University-Fresno.

Fund officials had originally anticipated raising an additional $45 million. "We were pleasantly surprised by the higher figure we were able to raise," Place Properties chief acquisitions officer Bob Clark tells GlobeSt.com. "As we continued our efforts, we got a warm reception from our investors with an appetite for these types of properties."