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Investcorp Divests from 525-Bed Student Housing Property in West Midtown

Global provider and manager of alternative investment products Investcorp has divested from Signature West Midtown, a 525-bed student housing complex in Atlanta’s West Midtown submarket. The sales price was not disclosed.

The firm acquired Signature West in partnership with The Preiss Company in late 2019. The property serves students attending Georgia Institute of Technology and Georgia State Uniersity. The complex consists of studio-, 1-, 2-, 3-, 4- and 5-bedroom configurations. Since October 2020, Investcorp has sold four student housing assets (2,321 beds) in multiple markets for a combined total of $285 million.

“These transactions demonstrate the continued success of our strategy in the student housing sector and our ability to generate value-add oriented returns on newer buildings in close proximity to major US university campuses,” said Michael O’Brien, Co-Head of Real Estate North America at Investcorp. “Despite market dislocations brought on by the pandemic, we are pleased to have maintained solid operating performance and collections throughout Covid-19. We continue to remain bullish on student housing and look forward to pursuing future opportunities that capture favorable supply/demand dynamics surrounding universities and build upon our 25-year track record.”


Inside The Story

Investcorp's O'Brien

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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