February 28, 2020

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 December 2023, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.4 billion in assets located primarily in the USA and Europe, including 7,400 apartments and more than 10.8 million square feet of commercial real estate under management.

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