Morgan Stanley Investment Management and The Scion Group jointly acquired a portfolio of student housing communities in Oxford, Mississippi, for a combined investment of $262 million. TSB Capital Advisors represented the new joint venture in arranging financing for the acquisitions.
The portfolio is located within two miles of the University of Mississippi campus and comprises 600 apartments, townhomes and cottages with more than 2,000 beds.
Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing commented, “The dramatic supply-demand dynamics in the region have led to notable financial performance for these assets, which we expect to continue as the university continues to experience strong enrollment.”
Morgan Stanley suggests that student housing—particularly high-quality, well-located assets proximate to leading colleges—exhibits strong fundamentals, such as resilient, counter-cyclical enrollment demand, generally moderating supply and an attractive yield profile. Investment funds managed by MSREI currently own 43 student housing properties across the United States, totaling 17,700 beds.
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