SFO grows its student housing portfolio by adding 524 beds at close proximity to the University of Illinois
SFO Group (“SFO”) announces the acquisition of Latitude Apartments (“Latitude”), a brand-new 524-bed student housing asset, increasing the total number of beds in its student housing portfolio to approximately 3,000.
Latitude is the closest off-campus student housing property to the University of Illinois (“UI”), a highly ranked establishment, member of the Power 5 athletic conference, with a nation wide top-ten engineering program. UI is attracting an increasingly large pool of students every year, with enrollment reaching a record 51,000 students in 2019 and projected to grow by 15% by 2024.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “Latitude marks our fifth US student housing acquisition, as we still favor the sector for its defensive characteristics and attractive risk-adjusted returns. We continue to find compelling opportunities across the student housing space in the USA but remain highly selective by exclusively focusing on assets acquired at a discount to replacement costs, catering to top state universities benefitting from strong enrollment trends and favorable supply dynamics.”
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of June 2023, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.2 billion in assets located primarily in the USA and Europe, including 7,000 apartments and more than 9.6 million square feet of commercial real estate under management.