Centurion Corp has proposed the purchase of 1,936 beds across five operational US student housing assets for US$136 million ($187 million). Centurion intends to hold a 30% stake in the portfolio, and is in discussion with third-party investors to buy the remaining interest.

The five student accommodation assets are located in four US cities: Auburn, Alabama; Tallahassee, Florida; Madison, Wisconsin; and College Station, Texas. They include the 231- bed The Towers on State (below), which, according to Centurion, is located in close proximity to University of Wisconsin–Madison.

The acquisition is expected to take place at end-September. When completed, Centurion will have 5,424 beds under management across 16 student housing assets in the US, the UK, Australia and Singapore.

Source: Centurion