Mapletree acquires 8 student housing assets from Kayne Real Estate

The deal brings Mapletree's overall student housing portfolio to over 18,000.

Mapletree Investments acquired another portfolio of assets from Kayne Anderson Real Estate Advisors, this time comprising of eight purpose-built student housing assets with 3,611 beds in the United States, and 140 beds in Canada, and four multi-family assets with 1,388 units in the US.

The eight student housing assets are well located abutting university campuses, on average 0.2 miles (320 metres) to their respective universities, the majority of which are ranked as Tier 1. These assets are purpose-built, well designed and have strong occupancy above 90%. They are positioned for further growth as the majority have been completed over the last three years.

Through a series of transactions with Kayne Real Estate worth approximately US$1.6b representing one of the largest transactions in student housing globally, Mapletree’s significant position in the student accommodation sector has been enhanced.

Mapletree acquired its first US student housing portfolio of seven assets from Kayne Real Estate in November 2016 and now has 17 assets with 12,000 beds located across 16 cities in the US. Mapletree’s total student housing portfolio consists of 43 assets with 18,024 beds located across 29 cities in the US, Canada and the UK, including assets held by its sponsored Mapletree Global Student Accommodation Private Trust.