Austin, Texas — High retention and on-target acquisitions reported.
Austin, Texas — Campus Advantage has announced the acquisitions division met its targets by purchasing more than $70 million worth of Class A student housing.
The company also reports a 45 percent returning-resident ratio, citing the Students First program as one of the drivers of the retention. That program is estimated to have saved its clients an average of $380 per bed on marketing, leasing and turn costs.
For 2011, CA added more than 2,600 beds to its managed portfolio and also continued to expand its reach this year with consulting services and market studies for investors for a combined market value of more than $600 million. The company also announced in the update that it has closed a $100 million joint venture equity program with a large unnamed pension fund.
– Lynn Peisner