Blue Vista Capital Management and StepStone Real Estate have created a $90m (鈧�85.6m) US student housing co-investment partnership.
The companies said the partnership has invested in a new development project at Georgia Tech, Theory Interlock.
Theory Interlock is part of the second phase of development at The Interlock, a mixed-use community in West Midtown Atlanta. The project is being developed with master developer SJ Collins Enterprises and Blue Vista affiliate student housing management company PeakMade Real Estate.
Blue Vista is investing on behalf of its value-add student housing strategy.
Jason Schwartz, managing principal and co-head of Blue Vista鈥檚 equity group, said the Georgia Tech student population continues to experience steady growth and 鈥漺e are excited to expand our presence at Georgia Tech鈥� in partnership with StepStone to deliver a community to serve students seeking high-quality accommodations.
鈥淭heory Interlock represents our investment strategy of developing modern student housing accommodations adjacent to top-tier universities, with thoughtful design and attractive amenities that support the demands of today鈥檚 student throughout their academic careers,鈥� said Schwartz.
John Waters, partner and head of investments at StepStone Real Estate, said: 鈥淲ell-located, high-quality, purpose-built student housing near growing universities is one of our high-conviction investment themes.
鈥淲e are excited to be co-investing with best-in-class student housing managers like Blue Vista and PeakMade.鈥�
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