We acquired a c. $115 million student housing portfolio affiliated to top rated universities located in the United States. The acquisition is in partnership with Student Quarters, an Atlanta based specialist asset manager, who is the sixth largest purchaser of student housing assets in the US.

The assets acquired include privately held, off-campus student accommodation located within close proximity from the University of Arkansas and Florida State University. The assets are fully amenitized having been designed specifically to cater to the growing needs of modern students. They offer resort-style pools and sun decks, grilling stations, courtyards, coffee shops, study rooms and fitness centers. Unit layouts are generally one to four single bedrooms each with private bathrooms.

The assets fall in line with our investment strategy for student housing assets, which is based on building a diversified portfolio that targets universities within the top 150 universities in the US and that are considered flagship universities in their respective states with strong sporting and academic facilities. These universities have steady growth in enrollments over long periods of time and have a large student body in excess of 20,000.