Student Housing REIT to Purchase Fairborn Property
FAIRBORN, OH-A real estate investment trust based in Austin has announced its plans to acquire 19 student housing communities, including a Cloveridge Court property in Fairborn. American Campus Communities Inc. will buy 19 student housing properties, which comprise 12,049 beds, for $862.8 million from Kayne Anderson Capital Advisors LP affiliates.
The student lodging REIT will buy The Province at 3419 Cloveridge Court. The 657-bed property is situated near Wright State University. The company has plans to spend about $12.3 million to improve the properties. For the full story, go to Dayton Business Journal .
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