AUSTIN, TX - Campus Advantage, a leading student housing company, is moving into the Orlando-area student housing market with its recent acquisition of Northgate Lakes, which serves the University of Central Florida (UCF). The property marks the first acquisition under one of the firm’s joint ventures with major United States’ public pension plans.
Northgate Lakes is located across the street from the north entrance of the UCF campus. The property includes 194 units and 710 beds and is 95 percent occupied. It offers several three- and four-bedroom floor plans from which students may choose. The property features amenities such as a study and social lounge, computer center, game and theater rooms, two swimming pools and a sand volleyball court.
It is the first property purchased by Campus Advantage under a $150 million joint venture with a major public pension plan, which provides investment services for the benefit of public employees and state and local governments. Under the joint venture, the student housing firm and its partners look for properties in high growth areas with high occupancy rates.
“The University of Central Florida is one of the fastest-growing universities and the second-largest university in the nation in terms of enrollment,” said Michael Orsak, senior vice president of investments for Campus Advantage. “Because of this, the UCF area is seeing tremendous demand for student housing, so Northgate Lakes is well-positioned to deliver great returns on the investment we have made on behalf of our public pension plan partners.”
Campus Advantage has been extremely successful in helping public pension plans deliver returns to investors. The company also has a partnership with the California State Teachers' Retirement System (CalSTRS), which is one of the nation’s largest state pension funds. In total, Campus Advantage and its pension fund partners have committed $325 million to student housing acquisitions since 2007.
Campus Advantage operates 50 student housing communities across 19 states with a total bed count of more than 27,000.
About Campus Advantage
Campus Advantage is an Austin-based real estate firm that offers student housing management, development, acquisition, and consulting services. The company works to create winning partnerships between colleges, universities, investors, developers and owners in an effort to help students achieve their academic and personal goals. For additional information, please visit www.campusadv.com