Ocean West Led Group acquires $250m of student housing

An investment group led by Ocean West Capital Partners, Tiger Alternative Investors, Korea Investment & Securities Co., and Landmark Properties has closed on the acquisition of two student housing portfolios, which together consist of five student housing communities totaling nearly 1,600 beds.

The five properties are located in three premier college markets: University of Michigan in Ann Arbor, University of Texas at Austin and Florida State University in Tallahassee.

The first portfolio consists of two student housing communities adjacent to the University of Michigan: Z Place (248 beds) and Z West (198 beds). The communities, constructed in 2009 and 2012, have been fully leased since construction and have premier locations within one block of the Diag and central campus. Ownership plans to further enhance the resident experience with capital improvements to the living units, common areas and amenities.

The second portfolio consists of three new student ho