Quad Real has invested $600 million of U.S. equity into a joint venture between CA Student Living and GI Partners, according to a company announcement.
CA and GI are co-investors and general partners with CA serving as the operating partner. All three companies have a history in residential real estate and manage multi-billion dollar portfolios.
The venture provides QuadReal and GI with a compelling entry point into the growing US student housing market. The sector performs well throughout all economic cycles making it an attractive investment, according to the statement.
The portfolio includes 10 properties developed and managed by CA and are in 10 major university markets across 9 states, the statement said. The joint venture plans to acquire and develop additional student housing projects across the country to grow and diversify.
