"With US college enrollment climbing each year, the student housing sector has tended to be resilient through various cycles," said Kim Hourihan, Chief Investment Officer for CBRE Global Investors' Americas Direct Real Estate Strategies, in a prepared statement. "SOVA is the first of many strategic investments that we will make with GMH, and we look forward to continue growing our partnership with this best-in-class operator."

GMH owns and operates more than 89,600 student housing beds. In addition to SOVA in Marietta, Georgia, the company recently added The Dean Campustown in Champaign, Illinois and Academy65 in Sacramento, California to its portfolio.

"Our partnership with CBRE Global Investors enables us to rapidly grow our student housing portfolio and bring a global institutional platform to a long-term asset class," Gary Holloway Jr., president of GMH Communities, said in a prepared statement.

While the average enrollment figures for post-secondary schools are tepid, there is some upside potential in student housing. The US institutional student housing market is poised to remain a steady option for real estate investors, according to a new report from the National Multifamily Housing Council.

NMHC estimates the student housing market will grow from 8.5 million beds last year to 9.2 million by 2031, accounting for an average annual increase of 0.8% per year, while enrollment in post-secondary schools will increase annually by 1.1% on average. Most of that growth, according to NMHC, will occur in public four-year universities.  

"Even in the face of a more challenging demographic environment, there will still be pockets of opportunity for the more discerning investor," the report notes.