Student Housing Daily
Posts
Student Housing Daily - March 31, 2026 - Alden Street acquires 627 beds

Student Housing Daily - March 31, 2026 - Alden Street acquires 627 beds

Ascentris and Student Quarters acquire property. Landmark breaks ground. Mapletree prepares sale of fund. Tougher competition for student housing in 2026. Four new student housing deals.

Aid Sopjani & Matt H
March 31, 2026

Good morning. Welcome to Student Housing Daily! In each issue, we cover the top stories, trends, and listings in student housing.

→ Make someone’s day! Forward Student Housing Daily to clients and colleagues. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: Alden Street acquires 627 beds. TSB Realty has arranged the sale of SoCam 290, a 627-bed student housing community near Rutgers University in New Brunswick, to Alden Street Capital. The seller was not disclosed, while financing for the acquisition was arranged by TSB Capital Advisors. The community was fully leased at the time of sale.

ACQUISITION: Ascentris and Student Quarters acquire 243-bed housing in Texas. A JV between Ascentris and Student Quarters has acquired Noble 2500, a 118-unit, 243-bed purpose-built student housing community in Austin’s West Campus submarket near The University of Texas at Austin. The Class A asset was completed in 2023 and will be operated by Student Quarters. Jeff Higgins of Ascentris said the deal fits its strategy of buying or developing campus-adjacent Class A housing at Tier 1 universities and that Noble 2500 was acquired at a discount to replacement cost. Melanie Phelps of Student Quarters said the acquisition expands the firm’s UT Austin footprint and marks the partnership’s entry into one of the country’s top student housing markets.

DEVELOPMENT: Landmark Properties breaks ground on 546-bed project. Construction is underway on The Retreat at Westerly, an 11.2-acre student housing development at Westerly Parkway Plaza in State College being developed by Landmark Properties in partnership with Golden Primera and Peninsula Investments. Nick Lev, development manager at Landmark, said the project is the company’s fifth ground-up development in Happy Valley. Construction began in October, demolition started in January, leasing is expected to begin in fall 2026, and the project is scheduled to open for the 2027 academic year.

FUND: Mapletree prepares sale of student housing fund. Mapletree is preparing to sell the assets in its Mapletree Global Student Accommodation Private Trust after more than 90% of investors rejected a proposal to extend the fund’s life. According to the report, the fund’s IRR had fallen to 1.1 percent by the end of last year, and its roughly $700 million in remaining assets could result in investors taking losses of more than 20 percent when capital is returned.

READ: Tougher competition for student housing in early 2026.