Columbus, Ohio — The partners will use capital to fuel “aggressive” acquisition objectives.
Columbus, Ohio — Peak Property Group, LLC, a privately-held full service real estate firm focused on student housing, has formed a partnership with private equity firm Manhattan Partners. The transaction between Manhattan and Peak is the cornerstone of a plan to build a national portfolio of student housing leveraging Peak’s operational platform in student housing and Manhattan’s capital resources.
The firms plan to work together to deploy an undisclosed pool of capital that has been committed to the strategy over the next 24-36 months. The acquisition strategy is centered on value add redevelopment of on-campus and close-proximity properties with a target values of $10 to $75 million per transaction.
“This is more than just financing,” said Peak Managing Director Andy Lallathin. “Peak has deep expertise and relationships in the student housing industry and is focused on building on their success with the help of financial and strategic resources that Manhattan will bring to the relationship. The joint capabilities of our firms will allow us to competitively bid on most student housing portfolios brought to market over the coming few years.”