Canadians Invest $600M in US Student Housing Venture

Uncommon Athens, one of the properties in the deal, is a 210-bed property serving the University of Georgia.

CHICAGO, VANCOUVER, BC—QuadReal Property Group, CA Student Living and GI Partners have formed a joint venture to acquire, develop and manage student housing at select universities throughout the US. Vancouver, BC-based QuadReal has invested $600 million of equity into the joint venture. CASL and GI are co-investors and general partners, with CASL serving as the operating partner.

CASL has acquired 5,000 university beds and developed another 20,000 new beds since its founding in 2004, making it one of the most active infill student housing developers in the country. The joint venture’s initial portfolio includes four properties developed and managed by CASL, and six new developments that will open in the next few months.