Blue Vista forms student housing JV with Korean partners
Chicago-based Blue Vista Capital Management has formed a new joint venture with South Korean investment firm Koramco Asset Management and a second South Korean institution to invest in top-tier core student housing assets across the United States.
The partnership has made two initial student housing investments — the acquisition of Villas on Rio, an 856-bed property at the University of Texas at Austin, and recapitalised Theory Syracuse, a 601-bed property at Syracuse University in New York. The properties are well-located, grade A student housing properties that represent a combined asset value of US$250 million.
“The properties at the University of Texas at Austin and Syracuse University highlight the type of premier student housing investments that this partnership will pursue, as well as our commitment to providing students with highly amenitised living accommodations,” said Jason Schwartz, managing principal of student housing at Blue Vista.