Statesboro, Ga. — The 368-bed Woodlands at Statesboro will be part of the second round of investments the largest teachers’ pension fund in the United States has committed to with CA.
Statesboro, Ga. — Campus Advantage has closed on its first acquisition under its second joint venture with the California State Teachers’ Retirement System (CalSTRS).
The property, The Woodlands at Statesboro, serves the students of Georgia Southern University. Consisting of two-bed, two-bath units, the property includes 184 units and 368 beds and is 99 percent occupied. The property is within walking distance to the university and includes amenities such as a clubhouse, swimming pool, fitness center, basketball and sand volleyball courts, business center and a billiards room. In addition, units feature washer/dryer, crown moldings, walk-in closets, track lighting and a breakfast bar.
The Woodlands at Statesboro is the first property acquired under the $75 million second round commitment that CalSTRS has made with Campus Advantage. CalSTRS is one of the nation’s largest state pension funds. CalSTRS’ investment manager for its investment in the venture is Heitman Capital LLC.
The California pension fund first teamed with Campus Advantage in a $100 million partnership back in 2007, which was fully placed in December 2011. The first venture acquired seven properties totaling more than $193 million in student housing and encompassing 4,749 beds.