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- Auctus Investment Group (AVC) has signed a joint venture agreement with Student Quarters, a U.S.-based student housing asset manager
- As part of the joint venture, Auctus is launching a multi-asset fund to invest in opportunistic properties,
- According to the agreement, Student Quarter’s will co-invest between five and 10 per cent in each asset in the fund
- The fund will initially be valued at around US$50 million (approximately A$71.69 million) but is expected to go as high as US$250 million (roughly A$358.46 million) over the next three years
- Student Quarters is backed by global real estate giant Angelo Gordon and currently has more than 56 student housing deals valued at more than US$1.4 billion (approximately A$2.01 billion)
- Despite the announcement, Auctus Investment Group shares have slid 8.11 per cent, trading for 34 cents each
Auctus Investment Group (AVC) has signed a joint venture agreement with Student Quarters, a U.S.-based student housing asset manager.
Established in 2013, Student Quarters is backed by global real estate giant, Angelo Gordon and currently has more than 56 student housing deals valued at more than US$1.4 billion (approximately A$2.01 billion).
As part of the joint venture, Auctus is launching a multi-asset fund to invest in opportunistic property offers. In turn, Student Quarter’s will co-invest between five and 10 per cent in each asset as alignment capital.
The fund will initially be valued at around US$50 million (roughly A$71.69 million) but is expected to go as high as US$250 million (approximately A$358.46 million) over the next three years.
Auctus Managing Director, Campbell McComb commented on the joint venture agreement.
“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 HNW, 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 U.S. student housing sector,” he said.
Meanwhile, Student Quarters President and CEO, Andy Feinour stated he and the company were thrilled to announce the partnership. He went on to say that the current economic environment should allow investors to acquire high-quality assets on more favourable terms.
This news comes on the back of a strong month for Auctus shares, which have risen more than 100 per cent since late June.
Despite the announcement, Auctus Investment Group shares have slid 8.11 per cent, trading for 34 cents each at 1:00 pm AEST.
