GMH Communities, Invesco Acquire Indiana Student Housing Assets
The communities serve students attending Purdue University.
A joint venture between GMH Communities and Invesco Real Estate has acquired Grant Street Station and South Street Station, two student housing communities totaling 540 beds in West Lafayette, Ind. The two-property portfolio and serves students attending Purdue University.
The buyers declined to specify a price. When the portfolio traded in 2017, the assets sold for a combined $40.5 million, according to Yardi Matrix data, which listed Muinzer as the owner before GMH and Invesco.
Grant Street Station is the larger of the two properties, at 136 units and 288 beds, including one-, two-, three- and four-bedroom layouts. The 40-unit, 76-bed South Street Station is the smaller asset. Both are less than a quarter-mile from campus.
READ ALSO: Inside the Student Housing Amenities Evolution
Units include high ceilings, washer-dryers and microwave ovens. Common-area amenities include fitness centers, community rooms, swimming pools and dedicated parking spaces. The properties are fully leased for the current academic year.
Randall Calvert, executive managing director at TSB Realty brokered the sale. Privately owned GMH has made investments in more than 90,000 student housing beds and more than 10,000 standard apartments since its founding more than 40 years ago. Invesco has $86.3 billion in real estate assets under management.
Student housing’s strong preleasing numbers
Student housing preleasing ticked upward for the year in July 2026, coming in at 89.1 percent among the 200 major universities that Yardi Matrix tracks. That is 100 basis points higher than the level in July 2025, reflecting heightened demand for beds.
Investors have taken note. In August, Landmark Properties, Peninsula Investments and Liberty Mutual Investments acquired The Domain at Oxford, a 642-bed student housing community in Oxford, Miss., serving the University of Mississippi.
That same month, private equity investor HH Group acquired Varsity on K, a 197-unit, 212-bed student housing community in Washington, D.C., adjacent to George Washington University. Also, Article Student Living acquired Signature Apartments, a 150-unit, 280-bed property serving students attending the University of Kentucky in Lexington.
