Investment Criteria – Student Housing

We are actively seeking to acquire quality, student housing assets on a national basis with a focus in EST and CST regions. Our primary interest are assets that; are either under-capitalized, under-managed or both, and where the seller or control group is seeking a liquidity event. We will consider joint ventures or complex transactions and can provide work-out, debt restructuring and operational resources during transitional periods.

Primary Target Markets

Student housing assets should be in a major metropolitan area or an established sub-market. We will consider quality assets in smaller, tertiary markets on a case by case basis. In particular, we are interested in assets which have been under-capitalized, under-managed or require capital improvement investments.

Acquisition Criteria

In order to review an opportunity we require the following information

• Property Description
• Previous 2 years Operating Statement
• Current year Operating Statement (year to date)
• Current Rent Roll
• Property History (age, ownership)
• Financial Structure (if assumable debt)
• Market Information (School(s) served, distance, statistics)
• Market Information (Sales and rental comps, photographs)
• Location Map

Asset Age

We prefer assets built after 2000 but will consider older properties on a case by case basis.

Asset Size / Transaction Structure

Assets should have a minimum of 200 beds however we will consider smaller properties located in a core market or offers expansion opportunities. We prefer to engage in all cash transactions but will consider seller financing or assumption of existing debt. Target acquisitions can be a single project or a multi-location portfolio.