ORLANDO—Campus Advantage is moving into Orlando's student housing market. The student housing firm has acquired Northgate Lakes, which serves the University of Central Florida (UCF). The property marks the first acquisition under one of the firm's joint ventures with major United States' public pension plans.

Northgate Lakes is located across the street from the north entrance of the UCF campus. The property offers 194 student housing units and 710 beds and is 95% occupied.

“The University of Central Florida is one of the fastest-growing universities and the second-largest university in the nation in terms of enrollment,” says Michael Orsak, senior vice president of investments for Campus. “Because of this, the UCF area is seeing tremendous demand for student housing, so Northgate Lakes is well-positioned to deliver great returns on the investment we have made on behalf of our public pension plan partners.”