BETHESDA, MD-Locally-based ASB Real Estate Investments has tapped CBRE's National Student Housing Group to market a six-property student housing portfolio that consists of 3,057 beds and 1,374 residential units spread accross four states. The properties are located in Florida, Illinois, Indiana and Wisconsin with an average occupancy rate of 93.8%. ABS is taking advantage of the growing demand for student housing assets among the new equity groups that have entered this space, says Jaclyn Fitts, director with CBRE. "Traditionally, student housing has been a bifurcated segment of the industry, and groups have had a difficult time building a sizable portfolio," she says in a prepared statement."

ASB's' portfolio is a good match for new entrants or groups looking to build up their platform, she says.

ASB, for its part, is rebalancing its portfolio, which has become overweight with multifamily/student housing assets due to "value increases across its residential portfolio over the last few years."

The six properties are: ON50 and 42 North, at the University of South Florida; The Automatic Lofts at the Illinois Institute of Art and University of Illinois; Millennium and Bloom at Indiana University; 2040 Lofts at Marquette University in Wisconsin.

ASB is also throwing into the mix Dwight Lofts, a 771-bed asset that is 100% leased via a master-lease with Columbia College in Chicago. It is available to be sold with the six-property portfolio.