CAMPUS ADVANTAGE CLOSES ON FIRST PROPERTY UNDER $75 MILLION JOINT VENTURE

STATESBORO, GA. — Campus Advantage has closed on its first acquisition under the company's second joint venture with the California State Teachers' Retirement System (CalSTRS). The property, The Woodlands at Statesboro, serves the students of Georgia Southern University. Consisting of two-bed, two-bath units, the property includes 184 units and 368 beds and is 99 percent occupied. The property is within walking distance of the university and includes amenities such as a clubhouse, swimming pool, fitness center, basketball and sand volleyball courts, business center and a billiards room. In addition, units feature washer/dryer, crown moldings, walk-in closets, track lighting and a breakfast bar. The Woodlands at Statesboro is the first property acquired under the $75 million commitment that CalSTRS has made with Campus Advantage. The California pension fund first teamed up with Campus Advantage in 2007 for a $100 million partnership that was fully placed in December 2011. The first venture acquired seven properties totaling more than $193 million in student housing assets and encompassing 4,749 beds.