Real Estate
Brookfield Fund Buys $893 Million US Student-Housing Portfolio
For student housing, the company said it generally looks for properties near large, public universities with growing enrollments.
Photographer: Dee Dwyer/BloombergThis article is for subscribers only.
A Brookfield Asset Management Ltd. property fund bought a group of US student-housing communities for $893 million.
The 14 properties have a total of roughly 8,700 beds and serve schools including Texas A&M University, Dartmouth College and Indiana University, according to a Brookfield spokesperson. The purchase price was 36% less than what it would cost to replace the properties, and a 19% discount to recent trades, the spokesperson said.