March 4, 2020

Joint Venture to Invest $150 Million in Student Housing

The Los Angeles Business Journal reports on a $150 million joint venture to acquire and manage student housing on the West Coast.

Downtown-based property management company Ashland Pacific and West Los Angeles-based Integrated Capital Management, an investment management firm, have formed Ashland Pacific Integrated. The venture will purchase, manage and develop student housing properties, including value-add features. Ashland Pacific is the managing member.

The venture’s first purchase is an $18 million portfolio of student apartments near USC. The portfolio has nine properties and 84 beds and is 94% occupied.

Dan Lewin represented Ashland Pacific Integrated in the transaction.