Campus Advantage’s Michael Orsak and Josh Greenleaf discuss the best markets to invest in and their expectations from the sector going forward.
Campus Advantage is one of the most active players in the student housing market. Over the last decade, the company has acquired more than $1.5 billion in student housing assets through its partnerships and invested about $525 million in equity through several joint ventures. In addition, Campus Advantage manages more than 60 communities across the country.
The firm’s Michael Orsak, senior vice president of investments, and Josh Greenleaf, vice president of investments, revealed the major trends and challenges in the business. The two also explained what attracts today’s residents and what makes them stay.
What were the most sought-after markets for student housing assets in the first half of this year?
Orsak: I don’t think particular markets were sought after. The focus has generally been on acquiring/developing pedestrian-to-campus properties at large state schools. We’ve seen some large acquisitions at University of Michigan, University of Washington and University of Georgia. We’ve also seen strong interest in development at University of Texas, the University of Florida and Georgia Tech.