Atlanta — Blue Vista Capital Management and StepStone Real Estate, the real estate arm of investment firm StepStone Group, have announced a $90 million co-investment partnership with a focus on purpose-built student housing.
The partnership’s first investment will be Theory Interlock, a student housing development currently underway by Blue Vista and PeakMade Real Estate in Atlanta. Theory Interlock will offer 240 units in a mix of studio through five-bedroom floor plans near Georgia Tech.
The seven-story building is set to feature shared amenities including a Publix grocery store on the ground floor, rooftop swimming pool, state-of-the-art fitness center, two outdoor courtyards, a two-story club room, study rooms and meeting spaces. The project is scheduled for completion ahead of the fall 2023 semester.
The community is part of the second phase of development at The Interlock, a mixed-use project that includes 200,000 square feet of technology-focused office space, 105,000 square feet of retail and restaurant space, 349 luxury apartments, 18 townhomes, 70 single family homes and a 161-room hotel. The master developer for the project is SJC Ventures.