PHILADELPHIA, PA—Two large players making a major bet on the student housing sector say students want nicer living facilities near the schools they attend, while the schools are less interested in paying for it themselves.
Enter Campus Apartments, the oldest and one of the largest privately held student housing companies in the nation, and Clarion Partners, a leading real estate investment manager. The pair recently completed Campus-Clarion Student Housing Partners, a closed-end investment vehicle focusing on student housing in the U.S.
The vehicle closed with $402.9 million in equity commitments from high-quality domestic and international investors, predominately institutional. The fund will have approximately $1.2 billion in buying power, and is the largest student housing fund by a vertically integrated manager. Campus Apartments and Clarion Partners are co-general partners for the fund.
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