bcIMC-owned QuadReal invests $600 mln in U.S. student housing

QuadReal Property Group, a real estate company formed last year by British Columbia Investment Management Corp (bcIMC), has invested US$600 million in a joint venture to acquire, develop and manage student housing at universities across the United States. The joint venture is being undertaken with CA Student Living (CASL), the student housing investment arm of CA Ventures, and GI Partners, a U.S. private equity and real estate firm. The initial portfolio includes 10 properties developed and managed by CASL. Vancouver-based QuadReal oversees bcIMC's $18 billion-plus in real estate assets.

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