Campus Advantage announced the takeover of six properties, including two near the University of South Carolina campus.
The Austin, Texas-based group is the sixth-largest student housing owner/operator in the United States providing property management, consulting, acquisitions and development services.
In November, Campus Advantage announced a collaboration with Saban Real Estate and a three-phased acquisition plan for a 19-property American Campus Communities (ACC) portfolio. The first phase, which closed on Nov. 16, included eight tier one university student housing properties for the University of Missouri, Louisiana State University, and the University of Alabama.
The two USC properties, University Oaks in Columbia and Garnet Riverwalk in West Columbia, are part of phase two. Campus Advantage also added two properties at Penn State and East Carolina.
“Our phase one properties are benefiting from a fresh set of eyes, new programs, upgraded amenities, and capital improvements that provide enhanced, supportive communities for students,” said Mike Peter, president and CEO of Campus Advantage. “We are now both excited and ready to bring our expertise and time-tested approach to these next six university communities.”
Campus Advantage properties include more than 30,000 beds, and they boast a 97% occupancy rate.