Orlando, Fla. — The acquisition in the $150 million partnership represents CA’s entry into the UCF/Orlando market.
Northgate Lakes near UCF.Orlando, Fla. — Campus Advantage’s latest acquisition of Northgate Lakes marks the firm’s entry into the Orlando market. It is also the first acquisition under a $150 million joint venture with an undisclosed public pension fund.
Northgate Lakes is across the street from the north entrance of the University of Central Florida campus. The property includes 194 units and 710 beds and is 95 percent occupied. Campus Advantage is also currently assisting the California State Teachers’ Retirement System (CalSTRS) with delivering returns on student housing to investors. In total, Campus Advantage and its pension fund partners have committed $325 million to student housing acquisitions since 2007. UCF is reportedly the second-largest university in the United States by enrollment figures.