Summary:
- Stonepeak acquired a portfolio of three purpose-built student housing assets totaling approximately 2,300 beds, located within 0.1 miles of campus at leading four-year public universities across the Sunbelt, in partnership with Cardinal Group.
- The Class A properties, built on average in 2020, serve universities with average enrollments of around 40,000 students, reflecting Stonepeak’s focus on well-located student housing with strong demand and embedded growth drivers.
- Stonepeak’s real estate team, supported by its broader platform managing $80 billion in assets, targets infrastructure-like real estate sectors with durable cash flows; Simpson Thacher & Bartlett LLP and Jones Lang LaSalle advised on the transaction.
Original article:
https://www.citybiz.co/article/778272/stonepeak-acquires-student-housing-portfolio/
