October 1, 2019
An investment group led by El Segundo, CA-based Ocean West Capital Partners, Tiger Alternative Investors, Ltd., Korea Investment & Securities Co., Ltd and Landmark Properties acquired two student housing portfolios for $250 million. The five student housing communities total nearly 1,600 beds.
One portfolio consists of two student housing communities adjacent to the University of Michigan in Ann Arbor, including: Z Place (248 beds) and Z West (198 beds).
The other portfolio consists of three new student housing communities near the University of Texas at Austin and Florida State University in Tallahassee. The off-market transaction includes Nine @ West Campus (345 beds) and Nine @ Rio (347 beds) near UT Austin, and Nine @ Tallassee (438 beds) near FSU.
Ocean West’s Russ Allegrette says, “Ocean West and our partners are excited to close on these transactions, and are looking forward to finding additional investment opportunities in the student housing sector.”
*Pictured Nine @ Tallassee
For comments, questions or concerns, please contact Dennis Kaiser