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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).