Fund I expands Student Quarters’ acquisitions capabilities at a time when Student Quarters sees a strong buying opportunity in the purpose-built student housing sector. Growth in enrollment at top-tier public universities has far outpaced new deliveries over the past decade, causing persistent structural supply limitations across the asset class. Seeking opportunities to drive investor value through operational and capital improvements, Student Quarters invests in assets and markets where its integrated investment and property management team can execute its value-add strategy and provide an exceptional experience for residents and partners. Investments in the vehicle include assets in markets serving Georgia Tech, University of Tennessee, University of Arkansas, and Florida State University.
Stephanie Lynch, Student Quarters’ Chief Investment Officer and Chief Financial Officer, said, “We are so pleased to welcome leading institutional LPs alongside some of our longtime partners into this inaugural fund. This is an important milestone for Student Quarters. The strength and resiliency of the sector, coupled with Student Quarters’ disciplined investment strategy and expert team positions us to execute on new acquisitions.”
Andy Feinour, Student Quarters’ Founder and Chief Executive Officer, said, “Student Quarters’ portfolio results highlight the investment opportunity with top-performing sponsors. Over the past two years, Student Quarters has acquired $750MM of student housing assets and 7,846 beds. This next phase of the cycle is going to present tremendous buying opportunities.”
Lynch added, “As the vehicle is fully deployed, we look forward to the launch of Student Housing Partners Fund II later this year.”
GFH Partners, a Bahrain-based investment manager and long-time partner of Student Quarters, is a cornerstone investor in Fund I. Nael Mustafa, CEO, commented, “We are excited to continue the partnership between GFH and Student Quarters and leverage Student Quarters’ position of strength in the student housing sector.”
CBRE Global Investment Banking served as Financial Advisor to Student Quarters on this transaction. Additionally, Student Quarters was represented by Alston & Bird.
About Student Quarters
Student Quarters is one of the leading owner/operators of purpose-built, campus-adjacent student housing properties in the US. Student Quarters’ current portfolio represents 33 assets totaling nearly 14,000 beds at 24 campuses. Student Quarters consistently ranks as one of the top 20 owners of student housing in the United States and continues to be one of the most active and vertically integrated operators in the industry. Student Quarters has received numerous industry awards, recently recognized as a NAA Top Employer and “Best Place to Work,” and “Healthiest Employer” by the Atlanta Business Chronicle.
