(Read more on the TIC market and the multifamily market .)

LOS ANGELES-SCI Real Estate Investments has acquired student apartment complexes in Florida, Kansas and Mississippi from GMH Communities Trust in the locally based company’s first portfolio buy of student housing assets. The portfolio comprises five student housing complexes totaling more than 1.32 million sf near major university campuses, including two near the University of Florida and one each on or near the campuses of Florida State University, Kansas State University and the University of Southern Mississippi.

According to Scott Derrick, chief acquisitions officer for SCI, the company’s capability to purchase portfolios “will immediately accelerate our growth as buyers of high quality properties.” Derrick and Bill Rose, vice president of national multifamily and student housing, represented SCI. GMH Communities was represented by Ryan S. Reid, senior vice president and national director of student housing at CB Richard Ellis.

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