Ocean West Makes $250M Student Housing Buy

Ocean West Capital Partners has acquired a two student-housing portfolios for a total of $250 million. The investor purchased the properties in a joint venture with Tiger Alternative Investors, Korea Investment & Securities Co, and Landmark Properties.

The two portfolios total five properties and 1,600 beds. The properties are located at University of Michigan in Ann Arbor, University of Texas at Austin, and Florida State University in Tallahassee.

The investment group plans to enhance the resident experience with capital improvements to the living units, common areas and amenities in the first portfolio, which includes two properties across from the University of Michigan. The second portfolio has three properties and is fully leased.