News
National Student Housing

InvenTrust Properties Exits Student Housing

Photo credit: University House Communities

InvenTrust Properties, the Chicago area REIT formerly known as Inland American Real Estate Trust, announced plans Monday to exit the student housing market and focus solely on multi-tenant retail.

InvenTrust is selling its student housing portfolio, University House Communities, to a JV of Canada Pension Plan Investment Board, GIC and the Scion Group, in a $1.4B deal. The portfolio comprises 18 properties, including The Fields in Bloomington, IN (pictured), and four in development. Scion will operate and manage the portfolio and retain a 5% stake, while CPPIB and GIC will retain 47.5% stakes. Last month, InvenTrust landed a $300M unsecured loan that it plans to use for acquisitions and paying off maturing debt.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Equinix Ramps Up Spending Plans Amid Faster-Than-Expected AI Shift

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI