QuadReal Property Group has acquired full ownership of CA Ventures’ U.S. student housing business.
In conjunction with the purchase, Vancouver-based QuadReal rebranded CA Student Living as Article Student Living. QuadReal announced the purchase in a news release.
QuadReal became a real estate partner of CASL in 2017 and had held an indirect passive stake in the business since 2020.
The latest transaction’s financial terms were not disclosed. Article operates 25,000 student beds across 48 properties in 38 university markets and has 500 employees, according to its website.
Dennis Lopez, QuadReal’s CEO, said Article represents a key part of the Canadian company’s long-term U.S. investment strategy.
QuadReal is owned by the B.C. Investment Management Corporation. Privately owned, Victoria-based BCIMC manages approximately $233 billion worth of assets on behalf of B.C. public-sector pension plans, government bodies and publicly administered trust funds.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.