The company is targeting Midwest and Sunbelt states.

However, the city still ranks as one of the most expensive areas to rent in the country.

The real estate investment manager targeted strong fundamentals from high enrollments to job growth.

The real estate firm is looking to take advantage of supply not meeting the demand.

Sales in the three months through December rose by 3.7 percent.

Nearly 12 million square feet of construction was added to the inventory.

"Tenant demand is uneven but increasing."

The first phase has already been completed.