Joint Venture Between MSIG and a US-Based Investment Manager Acquires The Social Block and Townhomes, a 962-bed student housing community serving Mississippi State University

A partnership between an affiliate of Monument Square Investment Group (“MSIG”) and funds managed by a US-based Investment Management Firm (collectively the “JV”) has acquired The Social Block and Townhomes (the “Property”). The Property is the first acquisition in a broader platform that will seek to deploy $100 million of equity, acquiring approximately $300 million of purpose-built student housing. The Property is a 962-bed, purpose-built student housing portfolio comprised of two contiguous properties that operate as a single community serving Mississippi State University (“MSU”). Located approximately 0.3 miles from the edge and 1.0 mile from the center of campus, the Property consists of 385 units offering primarily two- and four-bedroom apartment and townhome layouts. Social Block, previously renovated in 2014, includes 754 beds and amenities including a resort-style pool, 24-hour fitness center, business lounge, green space and grilling stations, and direct SMART bus access to campus. Block Townhomes, previously renovated in 2018, consists of 208 beds in two-story townhomes featuring private bathrooms, in-unit washers and dryers, package lockers and smart thermostats.