Arcapita exits US student housing community

RIYADH: Alternative asset manager Arcapita Holdings Group, together with its partner Realco Capital Partners has announced its exit from Quarry Trail, a student housing community serving the University of Tennessee in the US, according to a statement. 

Quarry Trail is now acquired by Nitya Capital LLC, a US-based real estate investment firm, that owns real estate assets worth over $2 billion in the country. 

Despite the pandemic, Arcapita’s student housing strategy, targeting public universities was resilient, as it witnessed strong occupancy levels and rent growth, driven by pent-up demand for an on-campus experience from both domestic and international students.

According to the statement, Arcapita has completed over $15 billion in US real estate transactions over the past 25 years in various segments including rental housing and the industrial sector.