GMH Communities and Invesco Real Estate Acquire 176-Unit Student Housing Portfolio Near Purdue University

GMH Communities and Invesco Real Estate announced the acquisition of Grant Street Station and South Street Station in West Lafayette, Indiana. The two properties include 176 units and 364 beds serving Purdue University students.

Randall Calvert of TSB Realty served as exclusive sales broker for the transaction. Financial terms were not disclosed.

GMH Communities is a vertically integrated real estate company specializing in the acquisition, development and management of living communities throughout the United States. Invesco Real Estate is the $86 billion global real estate investment platform of Invesco Ltd.

According to the release, Gary Holloway Jr., Chief Executive Officer and President of GMH Communities, stated that Grant Street Station and South Street Station align with the company’s student housing portfolio growth strategy due to their location, quality and competitive positioning.

Scott Hirshman, Vice President of Acquisitions for GMH Communities, said in the release that the relative value of the assets was a key factor. He noted that rents remain meaningfully below newer pedestrian properties while providing comparable access to campus and surrounding amenities. The company stated this combination supports durable occupancy and provides continued runway for rental growth.

The release indicated this acquisition builds on GMH’s experience investing in and operating student housing nationwide as the company pursues opportunities in markets with strong demand fundamentals.

Jay Hurley, Managing Director, Acquisitions at Invesco Real Estate, stated in the release that the firm is pleased to partner with GMH Communities and invest in a market with compelling long-term fundamentals. He noted that student housing remains a high-conviction sector for Invesco Real Estate, and the investment aligns with the firm’s focus on well-located assets supported by strong fundamentals and durable demand drivers.

Both properties were built in 2014. Grant Street Station is located approximately 0.1 miles from campus, and South Street Station is approximately 0.2 miles from campus.