Campus Apartments Inc., Philadelphia, today said it had acquired a 14-property student housing portfolio from Dallas-based FirstWorthing Residential Co. L.P. for $256 million.
Privately held Campus Apartments called the deal the largest private student housing transaction on record. It adds 6,517 beds to the company's holdings.
"This portfolio allows us to extend the Campus Apartments brand to new university markets nationwide," said David Adelman, president and chief executive officer. "It was a targeted acquisition, in line with the investment strategy that we plan to carry out over the next few years."