LOS ANGELES—In a complicated deal that brought twoCBRE groups together, a Southern Californiastudent housing community has changed ownership. Blue VistaCapital LLC, based in Chicago, bought University Gatewayon behalf of an institutional client for approximately $200million. The 421-unit, 1,656-bed property serves students attendingthe University of Southern California here.

The purchase price is one of the largest paid for a single-assetstudent housing community so far this year. CBRE’s National StudentHousing Group negotiated on behalf of the seller, a partnership ofRCG Longview, Blackstone Real EstateAdvisors and Urban Partners. The group’sDallas-based director, Ryan Reid, worked on the deal with associatedirector Jaclyn Fitts, also in Dallas, as well as Tyler Andersonand Laurie Lustig-Bower both in Southern California.

Meanwhile, a CBRE Debt and Equity group comprised of executivevice president Mike Bryant and vice president Jon Wooton arrangedthe financing for buyer. Fannie Mae provided thedebt, which carried a fixed rate and a 10-year term.