Feb 27 2020

Ocean West Led Group Closes on 2,300 Bed Student Housing Portfolio

EL SEGUNDO, Calif., Feb. 27, 2020 /PRNewswire/ — An investment group led by Ocean West Capital Partners (“Ocean West”), Tiger Alternative Investors, Ltd. (“Tiger”), Korea Investment & Securities Co., Ltd. (“KIS”), and Landmark Properties (“Landmark”) has closed on the acquisition of West Village, one of the country’s largest student housing communities located at the University of California, Davis (“UC Davis”). The project was built in three phases from 2011 to 2013 and consists of over 50 individual buildings encompassing 2,289 beds and a best-in-class amenity package.

West Village is the largest net zero energy community in the United States, designed to produce as much energy as it consumes. To meet this goal, the community combines efficient overall design, with renewable on-site energy production via solar panels installed throughout the community. UC Davis remains deeply committed to sustainability and houses many of its research centers and programs at West Village.

“We at Ocean West are proud to have closed this large, complex transaction with our partners, and we are excited to continue working with the University to provide much needed housing for its students,” –Russ Allegrette, Principal of Ocean West Capital Partners

“The opportunity to acquire West Village aligned perfectly with our student housing strategy of investing in top-tier public universities, with growing enrollments and a need for quality purpose-built student housing. UC Davis is consistently ranked as one of the top public universities in the country. Enrollments have continued to grow, while new student housing development has not kept pace. As a result, it can be difficult for students to find housing close to campus, and many are forced to live in older, non-institutional product far from campus. West Village presented us with a unique opportunity to acquire over 2,000 beds on-campus, and we are looking forward to engaging with the UC Davis community.” –Phil Choi, Principal of Ocean West Capital Partners

Ocean West Capital Partners, formed in 2010, has acquired and operated commercial real estate investments valued at nearly $3.3 billion and completed over $6.2 billion of commercial real estate transactions. With over 100 years of combined experience and $50 billion of real estate transactions completed among its principals, Ocean West Capital Partners is a full-service real estate investment, operations, and management platform dedicated to identifying and executing opportunities that create long-term value for its partners and investors.

KIS is a leading securities company in Korea with a comprehensive range of asset management and investment banking services including securities brokerage for domestic and international investors, underwriting, IPOs, derivatives, real estate, fund management, and financial advisory services.

Tiger was established in 2018 and spun off from one of the top performing hedge funds in Korea. Since its inception, Tiger oversees over US $1.9 billion AUM in diversified asset types and regions. With extensive institutional investor relationship and capital market expertise, Tiger creates sustainable value for clients.

Landmark Properties is ranked as the nation’s most active student housing developer and top student housing contractor.  A vertically-integrated developer and owner-operator with over 850 employees and $5.3 billion of assets under management, Landmark’s current portfolio includes more than 60 student housing properties across the country and more than 37,800 beds, including over $1.8 billion in assets currently under construction.