January 10, 2020
CA Ventures said Thursday it would invest $12 billion into the North American student housing and residential sectors over the next five years, including $9 billion in student housing. The Chicago-based investment firm made the announcement in conjunction with its promotion of four senior executives to guide the strategy.
The promotions include Michael Hales to president of the firm’s student living division, Matt Booma to president and global head of CA’s residential division, JJ Smith to the newly created role of managing principal of CA’s student living division, and Bob Flannery to COO.
“In their new roles, Michael, Matt, JJ and Bob will help propel CA into its next chapter of growth as we look to scale our portfolio to $30 billion in assets by 2024,” said Tom Scott, CEO of CA Ventures. “The student and residential divisions will comprise more than half of those projections.”
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