Home Finance In $94.8MM Equity Transaction, CA Ventures Places Two Seattle Assets with Pension...

In $94.8MM Equity Transaction, CA Ventures Places Two Seattle Assets with Pension Fund Partner

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CA Ventures, Seattle, King County, University District, LIV Seattle, Campus Advantage, United States, Chicago, Pension Fund Partner

By Vladimir Bosanac

Chicago-based CA Ventures, a real estate investment holding company in multi-family residential, office, hospitality and senior lifestyle properties moved two of its properties in Seattle into LLCs affiliated with the company. The total value of the transaction, according to King County records, comes to $94.8 million.

The two apartment complexes that were part of the transaction are located in the University District in Seattle. One is the LIV Seattle apartment community located at 4717 Brooklyn Ave NE, and the other is a group of buildings located at 4119 – 4123 & 4109 12th Ave. NE.

The transaction is part of a larger portfolio shift, which the company announced just days ago. It included a six-property portfolio worth $200 million, in which Campus Advantage, an entity associated with CA Ventures, brought in a major state pension fund equity partner. Campus Advantage did not name the pension fund, but it did state that this was the second time the two partners had worked together. Campus Advantage previously completed a $150 million joint venture investment with the same partner in 2015.

“These high-quality assets are the perfect addition to our portfolio,” said Josh Greenleaf, vice president of investments for Campus Advantage in a statement. “We targeted these assets for their strong locations, high quality markets and stable performance, which will complement and diversify our existing portfolio.”

Under Campus Advantage management, these newly-acquired properties will benefit from programs that deliver a resident-focused experience that inspires and equips residents for personal and academic success, the company said in a statement.

Since its founding in 2003, Campus Advantage has become one of the fastest growing private student housing companies in the nation. The company’s asset acquisition and management strategies combined with its dedication to residence life and student development has made Campus Advantage the 6th largest student housing owner and the 7th largest manager in the United States, according to company statements.