A microcosm of the trends seen across the REIT sector over the last four years, the student housing REIT sector has been gobbled up by the private markets.
Private investors, seeking a defensively-oriented and diversified real estate asset, continue to see significant value in student housing, pushing values to levels that exceed those ascribed by REIT investors.
Two years after Campus Crest Communities was taken private, EdR was acquired by Greystar in a $4.6 billion deal, leaving American Campus as the lone student housing REIT remaining.
Student housing fundamentals remain challenged amid a slowdown in enrollment growth and surging supply growth in key markets. ACC has diversified into corporate housing with their deal with Disney.
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