Student Housing Portfolio Trades Using Shariah-Compliant Funding

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MIAMI—Earlier this year, Vie Management bought a student housing portfolio in six states for $134.6 million. Vie purchased the properties with a value-add strategy in mind. “We’re blowing out and expanding fitness centers, improving common areas throughout the buildings and improving upon or expanding the pool decks that exist,” Ari Rosenblum, co-founder and CEO of Vie, tells GlobeSt.com. “In the units, we’re ripping out carpet and putting in vinyl hardwood flooring, replacing old appliances with stainless steel and adding new furniture.”

In a market where student housing deals are getting harder and harder to make, buying and repositioning a six-property portfolio wasn’t the only headliner grabber for Vie, a national real estate investment firm headquartered in Miami. A big part of the story was the funding for the deal.