Austin, Texas— Austin-based Campus Advantage has acquired six student housing properties totaling 1,910 beds in a joint venture with a major state pension fund.
Acquisitions include Evolve Auburn near Auburn University in Alabama; The Flats near Illinois State University in Normal, Illinois; Uncommon Eugene near the University of Oregon in Eugene; Evolve Knoxville near the University of Tennessee in Knoxville; and Identity and LIV, two properties located near the University of Washington in Seattle. The properties are located within walking distance of their respective campuses, and offer a variety of floorplans ranging from studios to five-bedroom units.
“This acquisition marks the end of a successful investment period on our joint venture, and we look forward to delivering strong returns to our partners,” says Michael Orsak, executive vice president of investment for Campus Advantage. “We also look forward to establishing new relationships and replicating the successful track record we have built over the last 10 years.” Since 2007, Campus Advantage has acquired more than $1.5 billion in student housing assets through its partnerships.