JOHANNESBURG, SOUTH AFRICA—Like many major cities throughout the world, Johannesburg is experience a significant increase in university student enrollment. And as in many major metro areas, the market is ripe with student housing opportunities. According to South Africa's Department of Higher Education, the student housing available in the country accommodates fewer than 20% of the country's student population of 530,000.

One company taking full advantage of this situation is International Housing Solutions, a global private equity investment firm that focuses on affordable housing in South Africa. IHS managing partner Soula Proxenos relates that more than half the students attending the country's 23 public universities have access to student housing.

The locally based company is revamping hundreds of apartment units situated near the University of Johannesburg and Wits University, located in close proximity to major public transportation routes and retail centers. IHS has gradually been putting together a portfolio of what it terms “new-generation student housing solutions” throughout South Africa's major urban centers.