Investcorp, a global investment firm, has recently acquired a student housing property at the University of Texas at Austin for $160 million. This purchase is part of Investcorp’s recent acquisition of two properties totaling 914 beds. The other property is located at the University of Florida in Gainesville.
The UT property, known as 21 Pearl, was completed in 2013 and consists of 267 beds and 135 units. It boasts an impressive occupancy rate of 99%, which can be attributed to its recent renovations.
According to Michael O’Brien from Investcorp, their early entry into the student housing market over a decade ago has given them confidence in this sector due to strong long-term trends and consistently positive fundamentals such as enrollment growth and limited new supply both on- and off-campus. Their national portfolio currently maintains a high occupancy rate for the upcoming academic year.
Since its establishment in1996, Investcorp has acquired more than1 ,300 properties with an overall value exceeding $25 billion.
