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TH Real Estate acquires student housing properties

Greene Crossing

TH Real Estate has recently completed the purchase of two student housing properties in separate transactions. TH Real Estate’s US student housing investment strategy targets purpose-built, core and value-add assets in select target university markets. The platform currently manages over 6,000 beds.

  • BLVD63, located at 6345 El Cajon Blvd near the campus of San Diego State University, is a 1,379 bed, class-A community constructed in 2014. The property consists of three four-story mid-rise buildings with elevators. Students have access to a full-time private shuttle or can walk/bike to campus. The location also offers walkability to nearby retail and services. The resort-style amenity package includes a clubhouse with study lounges, media room, game room and fitness center.    
  • Greene Crossing is a 726-bed community at 708 Pulaski Street located 0.2 miles from the University of South Carolina. Constructed in 2015, it consists of three mid-rise elevator residential buildings. Students living at Greene Crossing walk, bike or shuttle to campus and can also walk to nearby night-life and entertainment. Amenities include a resort-style pool with a large sundeck, 24-hour fitness center, a cyber café with a coffee bar, business center and garage parking.

“We believe student housing offers the potential for attractive yields and risk profiles to institutional investors, even as the cycle matures,“ said Mike Schwaab, Senior Director, TH Real Estate. “The sector is poised to take advantage of megatrends that will play out beyond cycles and has defensive characteristics such as transparent demand driven by student enrollment, which we see increasing over the next five to 10 years. It also has the potential to offer diversification from several perspectives, including location, demand drivers and event risk.”

TH Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). TH Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or TIAA-CREF Alternatives Advisors, LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Teachers Personal Investors Services, Inc., member FINRA. C37283

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