Coastal Ridge has closed on three new student housing properties totaling just under 1,600 beds combined and a gross asset value of approximately $90 million. These purchases mark the firm’s initial deployment of capital from the Coastal Ridge Value-Add Student Housing Fund, LP, the firm’s inaugural institutional commingled fund.
Two of the newly acquired assets are in Ames, Iowa, serving Iowa State University (ISU), and one is in Baton Rouge, La., serving Louisiana State University (LSU). These are Power 4 conference schools with locations that demonstrate strong market fundamentals and value-add opportunities.
“Student housing stands out as a compelling asset class for those with the necessary experience and operating platform to execute,” said Patrick McBride, CEO of Coastal Ridge. “Since 2013, we’ve been building our platform, strengthening our operating capabilities, and growing our equity relationships for this moment. With new supply moderating a
