InvenTrust to Exit Student Housing

OAK BROOK, IL—InvenTrust Properties Corp. is selling off its student housing platform in order to become a pure-play multi-tenant retail REIT. Known as University House Community Group Inc., the platform is trading to a partnership of Canada Pension Plan Investment Board, GIC Pte. Ltd. and the Scion Group LLC in a deal valued at approximately $1.4 billion.

“The sale of University House marks the culmination of our portfolio evolution strategy to focus our energies and investment capital into our multi-tenant retail platform,” says InvenTrust’s CEO and president, Thomas McGuinness. “While University House has been a valuable component of InvenTrust’s portfolio, we are very excited about this transaction, which represents the conclusion of a robust evaluation process to maximize the value we receive for the platform.”