Aussie investment corporation ING's $100 million deal nets 90 percent of U. Conn's off-campus student housing.
It's not your father's student housing. The days of off-campus houses in student ghettos being rented out by local real estate czars are coming to an end.
In Storrs, CT, the Austrailian insurance corporation ING has completed a deal that seals it's ownership of 90 percent of off-campus student housing in this college town. The company "also purchased student housing near Eastern and Central Connecticut State Universities as well as Virginia Commonwealth University in Richmond, Va."
Over the last decade, off-campus student housing has become big business. This trend has also seen the IPOs of several US student housing corporations, and investment groups are buying into them big time. The Storrs deal is the leader in consolidating college student housing in a single city under one corporate umbrella.
See additional links for recent news on US student housing corporations.
Thanks to CollegeTownLife.com
FULL STORY: ING Buys 90 Percent Of Off-Campus Housing
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