Memphis

In conjunction with the EdR purchase, Blackstone Real Estate Income Trust, Inc. and partner Greystar Real Estate Partners also reported they had closed on the $1.2-billion purchase of EdR's student housing portfolio.

Since 2015, the Fogelman-Thackeray partnership has acquired seven multifamily communities totaling more than 1,800 units, with an aggregate value of more than $220 million.

As part of the deal Greystar and Blackstone are acquiring a portfolio of off-campus student housing for $1.2 billion.

Student housing REITs tend to do well no matter where the cycle is as students will always go to college, even -- especially -- during a downturn.

CBRE Capital Markets has just arranged the sale and recapitalization of Milhaus's Urban Core Portfolio.