Cardinal Group Cos. and TPG Real Estate Partners have closed on their acquisition of Arcadia Student Living, a 765-bed student housing community in Charlotte.
The transaction represents the 14th investment by TREP and Cardinal as part of a strategy to source and acquire high-quality student housing portfolios.
Arcadia Student Living is a purpose-built student housing community serving students attending The University of North Carolina – Charlotte. Built in 2015, the community is located one mile from campus and provides an easy commute via bike or community shuttle to campus. The 205-unit community includes several luxury amenities: a resort-style pool with poolside grills, an upscale fitness center including a steam room and sauna, a resort-style clubhouse with entertaining areas, study rooms, and a computer lab.
“Cardinal Group is excited to add Arcadia Student Living to its venture with TREP as we look to grow our relationship through strategi
