Campus Apartments and Clarion Partners Close Student Housing Fund with $400 Million

NEW YORK, NY – Campus Apartments, the oldest and one of the largest privately held student housing companies in the nation, and Clarion Partners, a leading real estate investment manager, announce the final closing of Campus-Clarion Student Housing Partners, LP, a close-end investment vehicle that invests in student housing in the U.S. The vehicle closed with $402.9 million in equity commitments from high-quality domestic and international investors, predominately institutional. The fund will afford approximately $1.2 billion in buying power, and is the largest student housing fund by a vertically integrated manager. Campus Apartments and Clarion Partners are co-General Partners for the fund.

The fund will seek investments in student housing and university-related real estate throughout the U.S. and will look to execute its value-add strategy through the acquisition and development of on- and off-campus projects.

“We’re excited to announce this closing and offer investors the opportunity to tap into the well- established platform we’ve created for the acquisition, development and management of student housing,” said David Adelman, President and CEO of Campus Apartments. “We believe that we’re uniquely positioned to capitalize on the current opportunities in the student housing sector, and the fund has been very active. The pipeline of investments is robust and we look forward to deploying capital in this dynamic market.”

“We believe the fund benefits from a strong partnership between two platforms with a long and successful track record of investing in real estate,” added Rob Greer, Managing Director for Clarion Partners and Portfolio Manager for the fund. “The fund offers investors exclusive access to Campus Apartments’ pipeline of investments and o p e r a t i o n a l expertise as well as Clarion’s long history as a leading real estate investment manager.”

About Campus Apartments

Campus Apartments, LLC, the oldest and one of the largest privately held student housing companies in the nation, is a leader in the development and management of university-affiliated real estate. The company has more than $2 billion worth of assets under management with more than 28,000 beds in 25 states. For more information on Campus Apartments, please visit: www.campusapts.com.

About Clarion Partners, LLC

Clarion Partners has been a leading U.S. real estate investment manager for over 32 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC, as well as a presence in Mexico. With $33 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 250 domestic and international institutional investors. More information about Clarion Partners is available at www.clarionpartners.com.

Disclaimer

Some information contained herein is derived from selected third party sources believed by Clarion Partners to be reliable, but no representation or warranty is made regarding its accuracy or completeness. Opinions and forecasts expressed reflect the current judgment of Clarion Partners’ Investment Research Group and may change without notice. Nothing herein constitutes an offer or solicitation of any product or service to any person or in any jurisdiction where such offer or solicitation is not authorized or is prohibited by law. Past performance is not necessarily indicative of future results and a risk of loss exists.