Blue Vista Capital Management has announced it is expanding its US student housing portfolio through a partnership with Koramco Asset Management, a South Korean real estate investment management firm, and a second South Korean institution.
With the partnership, Blue Vista completed the acquisition of Villas on Rio, a 856-bed property at the University of Texas at Austin and the recapitalization of Theory Syracuse, a 601-bed property at Syracuse University for a total of $250 million.
The deal leverages Blue Vista's investment platform and vertical integration with affiliate PeakMade Real Estate, one of the largest student housing management and development companies in the US. PeakMade manages 80 communities valued at over $2.8 billion across 60 markets.
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