Investcorp Acquires Four Student Housing Properties for $300 Million

New York City — Investcorp has acquired four student housing properties totaling nearly 3,000 beds for $300 million. Acquisitions include a 792-bed community located near the Texas A&M University campus in College Station; a 486-bed property serving students attending Texas State University in San Marcos; a 699-bed community located adjacent to the University of Kentucky in Lexington; and a 684-bed property located near the University of Oklahoma campus in Norman. The seller and details on the four properties, which were nearly fully occupied at the time of sale, were not released. “Many of the top university markets face shortages of housing, and when combined with growing enrollment, this creates favorable operating dynamics that support our long-term conviction in the asset class,” says Michael O’Brien, global co-head of real assets for the New York City-based firm.