ASX-listed Auctus Investment Group has signed a joint venture with a US-based specialist student housing asset manager.
The Australian investment group signed on with US company Student Quarters on Monday.
Auctus stated it will launch a US$50 million multi-asset fund to invest in deals, with the intention to build the portfolio to more than US$250 million during the next three years.
As part of the agreed terms, Student Quarters will co-invest between 5-10 per cent in each asset as alignment capital.
Student Quarters is reported to have completed more than 56 student housing deals, with transactions totalling more than US$1.4 billion.
Auctus managing director Campbell McComb said: “Our company is pleased to add a third asset management partner to our platform to provide [institutional-grade] assets and investment expertise to our growing group of [high-net-worth], family office and wholesale investors across the [Asia Pacific].”
“We feel both businesses are aligned in our conviction in the opportunities over the coming years in what is a large and scalable US student housing sector.”
Student Quarters president and chief executive Andy Feinour added Student Quarters is looking to build out its portfolio in the US.
“Student Quarters believes that the current environment will provide investors with a unique opportunity to acquire [high-quality] assets on favourable terms over several years,” Mr Feinour said.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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