Austin, TX based real estate firm Campus Advantage, Inc has been gobbling up student housing properties of late – from the article:
Recently, the Austin-based company has been eager in seeking student housing for acquisition. Since this January it has added nearly 5,300 beds to its student housing portfolio. With the new acquisitions, Campus Advantage manages more than 30,000 beds at 52 locations in 21 states, and the company also offers management, development, acquisition and consulting services in the student-housing niche.
Interestingly, the demand for higher end student housing has been strong. In the Boston area, recent developments of what could be described as luxury student living have been completed at Boston University (see related article here) and MIT among other schools.
Housing quality has been seen as the deal maker in the competition for top students along with plush athletic facilities and other amenities. And the competition among investors is heating up further for these properties – again from the article:
It isn’t easy finding good student housing properties, according to Campus Advantage. “There’s a limited pool of tier-one and -two level schools, with high barriers of entry and growing student populations,” Michael Orsak, vice president of acquisitions for the company, tells MHN. “Because of the limited supply and strong demand, prices have naturally risen.”
Definitely an amazing trend. Did you live in luxurious student housing? Do you have kids living in luxury student housing? What do you think of this trend? Share your thoughts! And for more on real estate from my site, check out my Real Estate category HERE.
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