TODAY'S DEALS: Campus Crest Communities, Harrison Street Real Estate Form $220M JV to Develop 10 Student Housing ... (Multi-Housing News)

Charlotte, N.C.--Campus Crest Communities and Harrison Street Real Estate Capital have come together to form a $220 million joint venture to develop 10 “fully‐loaded” student living communities across the U.S.

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JV Joins Crowd Looking at Distressed Asset Acquisition (Commercial Property News)

Preparing for the recovery of the commercial real estate industry, a joint venture called Cofinance-RiverOak Realty Partners formed with a goal of gathering “opportunistic real estate acquisitions” in the Northeast corridor from Boston to Washington.

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Behringer Harvard REIT Closes Offering with $3B (Commercial Property News)

Orlando-based CNL Financial Group and Sydney's Macquarie Group have joined forces for the first time to establish a new global REIT, CNL Macquarie Global Growth Trust Inc., which will pursue opportunities in just about every sector of commercial real estate in various areas around the world.

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The Preiss Company and HSBC Real Estate Equity Partners USA ... - Newswire Today (press release)

The Preiss Company and HSBC Real Estate Equity Partners USA ... Newswire Today (press release), UK - 3 hours ago It’s this kind of forward thinking that continues to position The Preiss Company as a leader in the student housing industry.” Preiss says that TPCO is ...

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Trammell Crow, MetLife JV to Develop Student Housing

MetLife Inc. and Trammell Crow Co.'s joint venture to develop student housing properties, announced late last week, will concentrate on off-campus and edge-of-campus student housing properties in high-barrier-to-entry communities, Chris Harness, senior vice president of the higher education service division of Trammell Crow, told CPN today.

The joint venture has a target to develop 3,000 to 4,000 beds, the metric used in student housing development, in the next three to four years, Harness said. "Typically, we are looking for markets that have 7,500 full-time undergraduates," Harness said. more...

MetLife and TCC join in Stratum project

MetLife Inc. (NYSE: MET) and Trammell Crow Co. have entered into a student housing development joint venture initially focusing on two properties, one of which is two blocks from the University of Memphis campus.

The Stratum on Highland is an 85-unit, 255-bed, luxury apartment development currently under construction on Highland Avenue. The mixed-use development should be completed by summer 2008.

It will be comprised of four-stories built upon a two-story podium garage that will have controlled-access parking. There will also be space for retail businesses. more...

GMH Communities Trust Completes Previously Announced Sale Transaction with SCI Real Estate Investments and Joint Venture with Fidelity Real Estate Group

NEWTOWN SQUARE, Pa., July 9 /PRNewswire-FirstCall/ -- GMH Communities
Trust , through its student housing division, College Park
Communities, today announced the completion of two additional student
housing property sales to SCI Real Estate Investments, LLC. The asset
sales, which included Seminole Suites in Tallahassee, FL and University
Crossing in Manhattan, KS, were made pursuant to a previously announced
definitive agreement to sell a total of five properties. The Company
received aggregate net proceeds of approximately $29.6 million from these
two remaining sales, after the buyer's assumption of existing mortgage debt
on the properties totaling approximately $31.8 million. more...

Inland American in joint venture

Inland American Real Estate Trust Inc. has formed a joint venture with an Indianapolis developer that will build and buy $1 billion of office, distribution, retail and other properties.

Inland American, an affiliate of Oak Brook-based Inland Group Inc., has agreed to invest $250 million in preferred equity in the joint venture with a unit of Lauth Group Inc., a 30-year-old firm with about $1.6 billion in projects under development. The joint venture has already acquired eight properties valued at about $120 million, Inland American said in a Securities and Exchange Commission filing. more...

GMH Communities Trust Announces Joint Venture With Fidelity Real Estate Group

NEWTOWN SQUARE, Pa., April 18 /PRNewswire-FirstCall/ -- GMH Communities
Trust (NYSE: GCT) through its student housing division, College Park
Communities, today announced that it has completed a joint venture
transaction with the Fidelity Real Estate Group, a unit of Pyramis Global
Advisors, a Fidelity Investments Company, encompassing a total of six
student housing properties. more...

Western University Student Housing Sells for $15M

Buyer: Virtu Investments and Lowe Enterprises Investors
Seller: Pomona Helix LLC
Location: Pomona, CA
Campus: Western University (student population: 2,000)
Price: $15.0 million
Broker: Hendricks & Partners

Western University Student Housing Sells for $15M – April 3, 2007

A joint venture of Carlsbad, CA-based Virtu Investments and Lowe Enterprises Investors purchased the 100-unit apartment community at 510 E. 3rd St. in Pomona, CA, for $15.1 million, or about $151,250 per unit.

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