Summary:
- A joint venture involving Pumphouse Residential Group, WeldenField Development and SPM has acquired The Lodge of Athens and Wildwood Baton Rouge, two student housing communities located at the University of Georgia and Louisiana State University, respectively.
- Altogether, the properties total 444 units and 1,188 beds. According to Yardi Matrix information, Alden Street has owned Wildwood Baton Rouge since 2018 and The Lodge of Athens since 2020. It paid $52.5 million for the former property and $25.5 million for the latter.
- Institutional investors remain attracted to student housing. Last month, a joint venture between Liberty Mutual and Landmark Properties purchased two parcels for the development of two student housing communities located near the Pennsylvania State University and the University of Connecticut.
Original article:
https://www.multihousingnews.com/jv-acquires-southern-student-housing-portfolio/