(This story, in slightly different form, originally appeared in Incisive Media's Daily Business Review.)

MIAMI-As real estate prices trickle downward during the recession, private universities in South Florida are seizing opportunities to make acquisitions and expand their campus footprints. Some colleges have recently purchased properties at favorable rates to add student housing, while other private schools have capitalized on cheaper construction materials and labor to complete several developments and begin work on other projects.

The recent deals and projects come at a time when universities across the country are laying off staff and cutting budgets. The value of university endowments fell about 23% between July and November 2008, according to a study by TIAA-CREF and the Commonfund Institute.

But some of South Florida's private universities, which command expensive tuitions, are seeing enough of an uptick in enrollment and interest from prospective students to absorb declines in endowment values. They have maintained a financial position that allows the universities to make opportunistic real estate acquisitions.