Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), and Global Student Accommodation (GSA) have completed the acquisition of a portfolio of eight student housing assets in Tier 1 U.S. university markets from a joint venture between a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) and Landmark Properties. The transaction is valued at more than $1 billion.
The acquired assets are located in prime university cities across seven states and cater to students at top-ranked universities including, the University of Virginia, University of Florida, Texas A&M, and Penn State University. The quality of the assets and their proximity to campus results in nearly 100 percent occupancy across the 6,200-bed portfolio.
The properties included in the sale were The Retreat at Corvallis (serving Oregon State University); The Standard at State College and The Metropolitan State College (serving Penns
