Student Housing

The lease facilitates the acquisition of a 384-unit student housing property near Arizona State University.

The firm acquired the 96-bed Victory on Ellendale for $12.5 million in 2018, and sold it for $20.5 million this year.

Some colleges are doing fine, but others are feeling a pinch, as student housing in those areas.

The fund already has $590 million in equity commitments, producing $1.5 billion in buying power.

Moody's forecasted that inventory levels will pick up for the next school year, and expects increases in vacancy rates and rental rate growth.

The joint venture launches as investor appetite for these assets grows increasingly stronger.

These transactions totaled 37 properties across 19 states and 31 universities.

The oversubscribed fund will invest in medical office, seniors housing and student housing assets.