Student Housing Daily
Posts
Student Housing Daily - January 16 - Kayne Anderson acquires 706 beds

Student Housing Daily - January 16 - Kayne Anderson acquires 706 beds

Kayne Anderson acquires 706-beds. Alignvest REIT sold for $1.7 billion. Laconia submits plans. MSU building $38 million residence hall. Mixed-use project secures $56 million. Four new student housing deals.

Matt H & Aid Sopjani
January 16, 2025

Good morning. This is Student Housing Daily, and we respect the game.

→ We are here to serve the owners, brokers, managers, and capital providers that specialize in student housing. Do us a favor, and forward this email to your favorite student housing pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: Kayne Anderson acquires 706 beds. Kayne Anderson, led by CEO Al Rabil, has acquired 114 Earle, a 706-bed complex in Clemson, SC. The property is 0.1 miles from the Clemson University campus.

DISPOSITION: Alignvest student housing REIT sold for $1.7 billion. Alignvest Student Housing REIT, Canada's largest platform for purpose-built student accommodations, has been acquired by Forum Real Estate Income and Impact Fund (REIIF) for $1.7 billion. Founded in 2018, ASH REIT became Canada’s largest owner of purpose-built student accommodations, with a portfolio of 7,159 beds across 17 properties in major university markets. Alignvest’s Sanjil Shah, Nancy Lockhart and Reza Satchu highlighted the governance and leadership that guided the REIT’s success.

DEVELOPMENT: Laconia submits plans for 23-story tower in Berkeley. Laconia Development, led by Paul Menzies has unveiled renderings for a proposed 23-story tower at 2029 University Avenue in Downtown Berkeley. The project includes two concurrent plans: one for a 240-unit multifamily residence and another for a 160-unit student housing facility, both within a 256-foot-tall structure encompassing approximately 190,000 square feet. The student housing alternative offers 60 studios, 20 one-bedrooms, 20 three-bedrooms, and 60 four-bedrooms, with 24 affordable units evenly divided between very low-income and moderate-income categories.

DEVELOPMENT: Morehead State University building $38 million residence hall. Morehead State University (MSU) is enhancing its campus with a new $38 million, 80,000-square-foot residence hall named Prefontaine Hall, honoring alumnus Andy Prefontaine and his family following their generous financial contribution. Located at the corner of Martindale Drive and Henry Ward Place, across from the Space Science Center, Prefontaine Hall is scheduled for completion in spring 2026. The facility will accommodate 310 students across four floors, featuring an open-style lobby, lounge space, and a central kitchen adjacent to the lobby. The majority of rooms are designed as four-person suites with shared bathrooms.

FINANCING: Mixed-use project secures $56 million in financing. The Williams Family and Morgan Creek Ventures have secured a $56 million loan from Avatar Financial Group for the redevelopment of a 10-acre mixed-use project at 2952 Baseline Road. The project, known as Williams Village II, is set to feature approximately 600 housing units, including student accommodations for the University of Colorado at Boulder. Coburn Architecture is serving as the project's architect. The development is planned to proceed in phases over three years. The first phase will deliver the student housing component, comprising about 300 units. Upon full buildout, the project will encompass more than six buildings, 90,000 square feet of retail space and restaurants, as well as public parks, plazas, and open spaces.

READ: Student housing trends for 2025.

FROM OUR PARTNERS

Rentametrix is your platform for lease tracking, rate optimization, and market data insights for student housing. Book your demo today: Rentametrix