Source: Campus Apartments / #Student #Housing
NEW YORK, NY - Campus Apartments, the oldest and one of the largest privately held student housing companies in the nation, and Clarion Partners, a leading real estate investment manager, announced the final closing of Campus-Clarion Student Housing Partners, LP, a close-end investment vehicle that invests in student housing in the U.S.
The vehicle closed with $402.9 million in equity commitments from high-quality domestic and international investors, predominately institutional. The fund will afford approximately $1.2 billion in buying power, and is the largest student housing fund by a vertically integrated manager. Campus Apartments and Clarion Partners are co-General Partners for the fund.
The fund will seek investments in student housing and university-related real estate throughout the U.S. and will look to execute its value-add strategy through the acquisition and development of on- and off-campus projects.
“We’re excited to announce this closing and offer investors the opportunity to tap into the well-established platform we’ve created for the acquisition, development and management of student housing,” said David Adelman, President and CEO of Campus Apartments. “We believe that we’re uniquely positioned to capitalize on the current opportunities in the student housing sector, and the fund has been very active. The pipeline of investments is robust and we look forward to deploying capital in this dynamic market.”
“We believe the fund benefits from a strong partnership between two platforms with a long and successful track record of investing in real estate,” added Rob Greer, Managing Director for Clarion Partners and Portfolio Manager for the fund. “The fund offers investors exclusive access to Campus Apartments’ pipeline of investments and operational expertise as well as Clarion’s long history as a leading real estate investment manager.”