Student Housing Drawing In National Investors

212 East, a 428-bed property within the University of Illinois’ Campustown district in Champaign-Urbana, IL.

CHAMPAIGN-URBANA, IL—Student housing performs as well or better than any other sector during a downturn, and that continues to draw in national investors like Arrimus Capital. The Newport Beach, CA-based multifamily investment and development company just acquired two new student housing properties.

Arrimus acquired 212 East, a 428-bed property within the University of Illinois’ Campustown district in Champaign-Urbana, IL, from XFD Real Estate Partners for an undisclosed amount. The company also purchased the Prado, a 472-bed mixed-use student housing community located adjacent to the University of Texas in San Antonio, from Fountain Residential Properties. Since 2017, the company has assembled a $290 million student housing portfolio consisting of 3,700 beds across six major universities and four states.