LaSalle Investment Management has acquired Red Cedar Flats, a 190-unit, 436-bed purpose-built student housing community within walking distance of Michigan State University in East Lansing, Mich.
LaSalle acquired the property on behalf of LaSalle Value Partners IX, alongside joint venture partners King Bridge Partners and Clear Rock Capital.
Completed from 2017 to 2021, Red Cedar Flats is positioned to serve Michigan State University’s student population. The acquisition represents LVP IX’s first investment in the student housing sector and reflects the fund’s continued focus on identifying value-add opportunities across real estate sectors.
“Student housing is an attractive residential subsector, particularly for newer, campus-adjacent assets at large universities experiencing enrollment growth, limited new development and constrained housing options. Red Cedar Flats is a well-located, high-quality asset that fits this thesis. The property was acquired
