CA Ventures Grows International Division with $325 Million Investment in Latin American Student HousingMarch 12, 2020
CA International, the international division of CA Ventures, a U.S.-based real estate investment management company, today announced it will invest $325 million to expand the firm’s multifamily and student housing presence in Latin America, specifically in the Mexico cities of Monterrey, Mexico City and Merida.
“Latin America continues to be a high-growth region that has attracted investors looking to acquire or develop new rental communities, particularly near major universities as housing preferences evolve,” said Tony DiBiase, principal of CA International who has led the division since its inception in 2013. “As a pioneer of purpose-built student housing in this region, we’ve worked hard to collaborate with local stakeholders and investment partners in each country to bring quality product to market, tailoring each development to the needs of the local student population. CA International’s flagship projects are changing how Latin America views student housing, offering students the chance to live away from home during their studies to gain independence and build lifelong friendships.”
CA International currently has four fully operational projects in Latin America: LivinnX 18, a 123-unit, 413-bed community in Bogotà, Colombia; LivinnX 21, a 135-unit, 486-bed community, also located in Bogotà; LivinnX Barranquilla, a 162-unit, 575-bed community in Barranquilla, Colombia; and LivinnX Santiago, a 144-unit, 410-bed community in Santiago, Chile. CA’s first two projects, LivinnX 18 and LivinnX Santiago, are over 93% occupied, while LivinnX 21 and LivinnX Barranquilla, which were completed in the last two years, are projected to be over 90% occupied within the next 12 months, demonstrating strong market reception. CA International has six additional projects in Mexico, Chile and Colombia slated to begin this year.
“These purpose-built student accommodations, in their various forms, are being absorbed by the Latin American market at increasing levels as the needs and wants of young people everywhere continue to change,” added DiBiase. “CA tapped into this trend early on with great success, and we continue to build on that proven model.”
Underscoring their impact on the broader market, CA International’s completed residential developments have won a number of industry awards. LivinnX 18 was honored with a 2019 CEMEX Building Award for residential housing as part of an international competition. The project also received an honorable distinction at The Biennial of Architecture and Urbanism in Colombia, the most prestigious architecture event for the region. Additionally, LivinnX Santiago was nominated for ArchDaily’s Building of the Year award in 2019.
CA International also has one operating asset in Europe, a 710-bed student community in Kraków, Poland, and three assets totaling 888 beds under construction in the U.K. cities of Glasgow, Edinburgh and Sheffield. By 2021, CA International will have 2,900 beds under operation in the European markets, and many more in the pipeline for 2022 and 2023.
About CA Ventures:
CA Ventures LLC is a global, vertically integrated real estate investment management company with more than $13 billion of assets across North America, South America, and Europe. The Chicago-based firm offers comprehensive in-house investment, development, and operational services, and specializes in a range of niche, commercial real estate asset classes including student living, senior living, multifamily, industrial and office. CA manages real estate investments on behalf of some of the world’s largest institutional investors across a range of core, value-add, and opportunistic investment vehicles. The firm also offers third-party management services for student, senior and residential assets. For more information, visit www.ca-ventures.com.