AUSTIN, TX—Locally based Aspen Heights Partners is acquiring Lincoln Property Co.'s student housing division, Grand Campus Living. Deal terms were not disclosed; the sale will mean Aspen Heights taking on property management of more than 3,000 beds across the US.

The properties include both on-and off-campus assets, concentrated in Texas and Florida although there are also communities in Chicago as well as in the states of Idaho, Montana, Nebraska, Ohio, Oklahoma and South Carolina. Demi Sterling-Kinney, VP of operations for Aspen Heights, will be overseeing the third-party property management division.

“With this acquisition, we are excited to grow our third party property management footprint and expertise, and we will continue to provide best-in-class care to the students living in these properties,” says Sid Keswani, COO at Aspen Heights. He calls the acquisition “a testament to Aspen Heights' continued commitment to expanding our business platform.”

At Dallas-based Lincoln Property, Scott Wilder, EVP of residential management, expresses confidence that Aspen Heights “will continue to show students and clients the highest level of service and dedication. Their reputation within the student-housing industry assures us GCL will continue to provide these students with a strong sense of community and convenient lifestyle.” GCL has been involved in managing and developing student housing since 2010.