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Student Housing Daily - January 28 - Heitman closes $2B value-add fund

Student Housing Daily - January 28 - Heitman closes $2B value-add fund

University of Rhode Island breaks ground on 1,100+ bed expansion. CLS Living wins management of 2,218 beds. LV Collective appoints new Chief Development Officer. National Student Housing report 2025-2026 leasing cycle. Four new student housing deals.

Aid Sopjani & Matt H
January 28, 2026

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

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NEWS ROUNDUP

FUNDRAISING: Heitman closes $2 billion value-add fund. Heitman Value Partners Fund VI closed with $2 billion in commitments, exceeding its $1.8 billion target. With leverage, the fund is expected to deploy $6.6 billion, focusing heavily on income-producing residential assets, including student housing, senior housing, and market-rate apartments in demographically strong metros, alongside self-storage, medical office, and industrial investments.

DEVELOPMENT: University of Rhode Island breaks ground on 1,100+ bed expansion. University of Rhode Island President Marc Parlange and Gilbane Development President James Patchett joined state and university leaders to break ground on a major student housing expansion at URI’s Kingston Campus. Delivered through a public-private partnership with Gilbane Development Company, the project will add more than 1,100 beds and modernize on-campus living.

MANAGEMENT: CLS Living wins management of 2,218-bed portfolio. CLS Living has been awarded management of four student housing communities totaling 2,218 beds across three states. The portfolio includes Brookside Downtown (834 beds) and The Den (522 beds) near the University of Missouri in Columbia; Gateway Lofts, a 180-unit market-rate property serving young professionals and graduate students near Michigan State University in East Lansing; and Mazza Grandmarc, a 626-bed community near the University of Maryland in College Park.

PEOPLE MOVES: LV Collective appoints new Chief Development Officer. LV Collective has named Sean Spellman as Chief Development Officer, tasking him with overseeing development, construction, and entitlements across the Austin-based firm’s portfolio. His remit also includes execution oversight, cost and schedule control, and enterprise risk management. “Sean brings the experience and governance mindset required to manage development risk at scale,” said David Kanne, CEO of LV Collective, citing Spellman’s background leading complex, multi-market programs.

READ: National student housing report 2025-2026 leasing cycle.