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Campus Advantage, in partnership with Saban Real Estate, acquired 19 properties around the country from American Campus Communities for $508 million. American Campus Communities will manage 11 properties during the 5-month transitional period, but Campus Advantage will eventually manage all 19 properties. Under Campus Advantage’s care, the properties will undergo many improvements including $30 million in renovations, new programs, and upgraded amenities. Mike Peter, president and CEO of Campus Advantage says that because of this deal, his company has become “one of less than a handful of privately-held companies in its industry to acquire over $1.2 billion in portfolio assets.”

“AUSTIN, TX—The 19-property student housing portfolio sale boosts the bed count for Saban and Campus Advantage while transforming American Campus Communities’ portfolio.”

Read the full article at GlobeSt.com