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Place/BV Puts $44M Into Student Housing

ATLANTA-The joint investment fund takes apartments near TX and OH colleges.

By Carl Cronan | Updated on August 26, 2008

ATLANTA-Locally based Place Properties Inc. and Chicago-based Blue Vista Capital Management LLC have acquired two college apartment complexes in Texas and Ohio through their Place/BV Student Housing Fund. The total value of the apartments is $44 million, according to a press release issued Tuesday by both firms.

The properties are located near the University of Texas at San Antonio and Wright State University in Fairborn, OH. The 204-unit La Cantera Place, a half-mile from the UTSA campus, is Place Properties’ second acquisition in the San Antonio market, among several others in Texas, while 96-unit Rockdell Place near Wright State is its first purchase in Ohio.

La Cantera, which opens to students this month, is expected to build on the success of Place Properties’ Hill Country Place apartments near UTSA, says Brent Little, national development partner for Place Properties. Rockdell Place has an advantage in that no new student properties are currently being built to serve Wright State’s growing enrollment, he says.

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