Gross + Cohen and Chain Bridge Capital Acquired 1,960 Beds in 2013

by Katie Sloan

Bryan, Texas and Jacksonville, Fla. — The JV formed in 2012 to target value-add projects.

Z Islander in Bryan, Texas.Bryan, Texas and Jacksonville, Fla. — A joint venture between Gross + Cohen, a Boston-based owner specialized in turnaround and value-add student projects, and Chain Bridge Capital, an investment banking and advisory firm based in Reston, Va., acquired two student housing developments with a total of 1,960 beds in 2013. Z Islander Apartments in Bryan, Texas, near the campus of Texas A&M University, has 864 beds and was purchased in November, and The District on Kernan in Jacksonville, Fla., near the campus of the University of North Florida, contains 1,096 beds and was acquired in March. These purchases bring the portfolio of the joint venture to 2,495 beds; the two companies also acquired two Wilmington, N.C., student housing properties in late 2012.



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