Auburn, Ala. — Campus Advantage has acquired Eagles Reserve in Auburn, its 10th and final acquisition under a joint venture with a major state public pension fund.
Following the completion of the acquisition, the pension fund partner reinvested an additional $150 million in equity with Campus Advantage.
The total equity raised by Campus Advantage is now $475 million in all joint ventures to date.
Eagles Reserve has 180 units and 576 beds, and was recently renovated. The community is situated approximately two miles from Auburn University and features amenities such as a 24-hour fitness center, complimentary coffee bar and an outdoor fireplace.
Campus Advantage has plans this year to acquire six additional student housing properties, adding to its portfolio of more than 40 properties in 22 states and 35 markets.