Centurion acquires student housing asset near Yale at $95 mln
By Angela Teo
/ EdgeProp |
On Aug 10, Centurion Corporation announced plans to acquire College & Crown, a student housing asset located within walking distance to Yale University, for a consideration of about US$70 million ($95 million).
According to Centurion, the 160-unit, 204-bed College & Crown has high occupancy rate because it is walkable to the New Haven Metro-North train station, local shopping, entertainment and dining options, as well as major employers.
With the inclusion of the College & Crown, Centurion’s combined portfolio in the US will comprise approximately 2,140 beds across six student housing assets. Centurion intends to own an interest of up to 30% of the combined portfolio and is seeking third party investors to own the remaining interest.
Source: Centurion
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