Blackstone Real Estate Income Trust (BREIT) is selling a portfolio of 19 student-housing properties to funds managed by KKR for $1.64B.
The portfolio, which encompasses more than 10,000 beds, includes purpose-built student housing assets anchored to 14 four-year public universities across 10 states, the companies announced on Thursday.
"We continue to have long-term conviction in student housing and are actively growing through BREIT's student housing platform, American Campus Communities, which is the largest owner of student housing in the U.S.," Jacob Werner, co-head of Americas Acquisitions for Blackstone Real Estate, said in a statement.
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