CA Student Living Closes Largest Single-Asset Deal to Date
CA Student Living (CASL) closed on its acquisition of Midtown Apartments, a 589-bed student housing community adjacent to the University of Florida (UF) in Gainesville, FL. The transaction marks CASL’s largest single asset acquisition to date.
“Midtown Apartments is a fantastic addition to our student housing portfolio as we continue to expand our presence in Gainesville – a high-conviction market where we have already achieved development and operational success,” said Mike Hung, SVPt of acquisitions for CASL.
Added CASL CIO David Rose, “This transaction is straight down the fairway in terms of CASL’s investment strategy – the acquisition of a high-quality purpose-built student community pedestrian to a growing, top-ranked public research university.”
Deal terms weren’t disclosed. A CIM Group-managed fund served as lender, with CBRE sourcing the financing for the transaction. CASL plans to invest in common area and amenity improvements.
- ◦Sale/Acquisition