Chicago — A joint venture between Blue Vista Capital Management and AXA Investment Managers – Real Assets has acquired University Center Chicago, a 1,732-bed student housing development located in Chicago’s South Loop neighborhood.
AXA IM will own 95 percent of the venture on behalf of its clients. Blue Vista, along with affiliate Peak Campus, will provide asset and property management services for the complex. University Center Chicago was purchased from the Education Advancement Fund Inc., a nonprofit established by DePaul University, Columbia College Chicago and Roosevelt University. Shared amenities at the property include an outdoor terrace, dining and conference facilities, a fitness center, computer lab, game and lounge areas, laundry facilities and 28,000 square feet of street-level retail.