Class-A Student Housing Changes Hands Amid $100M Buying Spree
Arrimus Capital, a multifamily investment company based in Newport Beach, California, acquired Campus Vue, a 465-bed Class-A student housing property adjacent to the University of Houston, for an undisclosed amount. Campus Vue is composed of 145 units within two five-story buildings. Last year, students voted Campus Vue as the Best Off-Campus Apartments. The property is 96% occupied. Jaclyn Fitts and Casey Schaefer, both with CBRE’s National Student Housing team in Dallas, represented both Arrimus and the seller, Fountain Residential Partners.
The deal is part of a larger move. Led by partners Ray Wirta, Chris Lee and Ryan Gahagan, Arrimus has closed more than $100M in student housing properties in the last 90 days. Earlier this year, Arrimus acquired the 1,044-bed Forum at Denton Station student housing property in Denton, Texas. The firm plans to acquire more than $1B in student housing assets over the next three years.