US & Canada

Amid ongoing housing issues over the past several years, Industrial Development Board (IDB) has approved $180 million in bonds for developing a new student housing apartment complex for Tennessee State University.

Today, LV Collective, a multifamily and student-oriented real estate developer, Kayne Anderson Real Estate, an alternative real estate investment management firm and Pacific Life, an insurance company announced the closing of their newest luxury student-oriented multifamily development in Tempe.

UC Santa Cruz will house up to 400 upper-division undergraduate students and more than 60 employees at a soon-to-be-constructed apartment complex to be built by a private developer, pending final review by the UC Board of Regents.

Ascott Residence Trust (ART) will acquire a freehold student accommodation asset in Champaign, Illinois, US for US$83.25 million ($112.4 million).

Muinzer, a leading real estate investment firm specializing in student housing, alongside capital partner T2 Capital Management, announced the acquisition of Evergreen Auburn near Auburn University. The property was recently renovated with modern amenities, including an upgraded gym and game room.

BOISE, Idaho (KMVT/KSVT) — The Idaho State Board of Education today approved a University of Idaho proposal to begin the planning and design to modernize existing on-campus student housing facilities and increase capacity by approximately 150 beds on the Moscow campus.

Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has acquired Pointe on Rio in Austin, Texas.

OTTAWA — Immigration Minister Marc Miller says international students will be able to work off-campus up to 24 hours per week starting in September.

KKR agreed to buy a student-housing portfolio from Blackstone for $1.64 billion, a sign that the multifamily property niche is holding its appeal to commercial real estate investors.

Studies have shown that nearly 20 percent of California's community college students have faced homelessness. Compton College aims to face that challenge head on, with a new dormitory complex in the works at the northeast corner of its campus.