(Read more on the multifamily market.)
PHILADELPHIA-Campus Apartments Inc. has acquired a 14-propertystudent housing portfolio from FirstWorthing Residential Co. LP for$256 million. It adds 6,517 beds in 2,381 units to locally basedCampus Apartments' existing portfolio of more than 12,000 beds andextends the company's footprint nationwide.
The acquisition contains 12 existing properties in six statesalong with two development parcels. David Adelman, president andCEO of Campus Apartments, tells GlobeSt.com the majority of theexisting properties are about 10 years old. They are in Tucson;Riverside, CA; Fort Collins, CO; Orlando; Raleigh, NC; and BatonRouge and Lafayette, LA.
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