With investors’ interest, student housing is in a construction boom. Luxury housing for students has become a multibillion-dollar industry. Not only is there a growing interest for investors’ portfolios, students want to live in these properties.
Chicago-based real estate development firms Golub & Co. and Farpoint Development have acquired Prairie Shores, a large-scale workforce housing apartment community in Chicago’s Bronzeville neighborhood.
LaSalle Investment Management has sold the Aliso Creek Shopping Center, a 49,149-square-foot, fully leased community shopping center with necessity-based anchors located along the Pacific Coast Highway in the Southern California community of Laguna Beach, Calif.
Mortgage banking company Merchants Capital has secured $25.5 million in funding for workforce housing development The Wesmont through a 10-year, Freddie Mac Unfunded Forward Permanent Loan on behalf of TWG Development.
Bridge Development Partners has paid $191.11 million for the ourth Street Distribution Center, 1.43-million-square-foot distribution center/fulfillment center and a 23,240-square-foot retail building in Rancho Cucamonga, Calif.
PMB, a real estate owner and developer across the continuum of care, has broken ground on the new class A, 55,000-square-foot St. Mary’s Medical Pavilion on Carondelet St. Mary’s Hospital campus in Tucson.
Scion Student Communities, a student housing joint venture between Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group, has acquired MUZE, a newly developed student housing community serving the University of Texas at Austin.
A joint venture of an affiliate of American Real Estate Partners and developer Oliver Tyrone Pulver Corp (OTPC) has received a $76.5 million loan from Mesa West Capital for the construction of Seven Tower Bridge.
While transaction volumes do not appear to have an impact on aggregate demand, demand has shifted around in some ways and there are meaningful localized impacts, including the rise in development site acquisitions since the start of the opportunity zone program, reported CBRE.