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Friday, 15 January 2016

Principal Buys Stake in Maryland Student-Housing Property in $142Mln Deal

Principal Real Estate Investors has acquired a stake in Landmark College Park, an 829-bed student-housing property that serves the University of Maryland in College Park, Md., in a deal that values the property at $142 million, or about $171,291/bed. The property was purchased through a venture Principal operates with CA Student Living.

Commercial Real Estate Direct Staff Report

Principal Real Estate Investors has acquired a stake in Landmark College Park, an 829-bed student-housing property that serves the University of Maryland in College Park, Md., in a deal that values the property at $142 million, or about $171,291/bed.

The Des Moines, Iowa, investment manager purchased the stake from the property's developer CA Student Living, the former Campus Acquisitions of Chicago, which will continue to manage it. It is fully leased for the current school year.

Principal last summer had formed a venture with CA Student that would pursue...


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