Article Student Living, a Chicago-based, vertically integrated real estate investment company specializing in acquiring, developing and operating Class A, purpose-built student housing assets across top-tier university markets in the U.S., and Barings, one of the world’s largest diversified real estate investment managers, announced the acquisition of 5 Twenty Four & 5 Twenty Five Angliana, a purpose-built student living community located in Lexington, Kentucky.
Student residents at Twenty Four & 5 Twenty Five Angliana have access to numerous community amenities, including two gyms, two swimming pools with sun decks and lounges, two study centers as well as private study rooms, a half basketball court, game room, movie theater and on-site parking. Fully furnished units ranging from one to four beds come with a flat screen televisions, washer and dryer and walk-in closets. Barings and Article Student Living plan to renovate the amenity space and unit interiors, offering a refreshed look to the existing, positive traits of the property.
“These properties were purpose-built with students in mind, and provide the underlying infrastructures for convenience, community-building and wellness. We’re pleased to acquire these best-in-class properties to help provide housing for students at the University of Kentucky, which continues to experience strong demand for high-quality student accommodation,” said Kevin Hites, President of Article Student Living. “We also look forward to exploring future opportunities for partnership with Barings, which shares our strong conviction in the student housing sector.”
“We are excited about the opportunity to continue partnering with Article Student Living across Barings’ equity and debt investment teams,” said Akbar Tajani, Barings’ Managing Director, Real Estate Portfolio Management. “The student housing sector has been a growing high conviction theme for us given strong fundamentals and continued desire for higher education in the United States. We look forward to expanding our relationship with Article in pursuing similar investment opportunities in what we believe to be supply and demand imbalanced markets.”
The University of Kentucky’s student population increased by 7% in just the last year and now totals 36,000, supporting strong demand for purpose-built student housing with proximity to campus and downtown Lexington.
Article Student Living is a Chicago-based, vertically integrated real estate investment company specializing in acquiring, developing and operating Class A, purpose-built student housing assets across top-tier university markets in the U.S. Article has experience in over 70 university markets and continues to sustainably grow its portfolio of assets – prioritizing university market selection, value creation and asset composition. Article currently manages 45 assets comprising 25,000 beds valued at over three billion dollars. The firm is wholly owned by QuadReal, one of the top 20 largest real estate investors globally.
