Stonepeak has taken ownership of a portfolio of three purpose-built student housing assets with approximately 2,300 beds, in partnership with Cardinal Group. The class A properties, which feature a wide range of best-in-class amenities, were built on average in 2020.
The portfolio’s assets are located on approximately 528 miles of well-known public university campuses across the Sun Belt with an average enrollment of approximately 40,000 students.
Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team invests in high-conviction sectors including supply chain, residential, healthcare and technology real estate.
“This acquisition reflects our conviction in the resilience and long-term fundamentals of well-located student housing, and we are excited to add these assets to our portfolio,” said Phill Solomond, senior managing director and head of real estate at Stonepeak. “With growi
