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University Heights, a prominent student housing property for the University of Alabama at Birmingham has a new owner.

Campus Advantage, a large student housing owner and operator, said it has closed on a 19-property investment along with Saban Real Estate out of California that includes student housing buildings at several major universities around the U.S. The transaction, which consists of more than 12,000 beds, is valued at $508 million, according to a press release.

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