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A joint venture between Nuveen and The Preiss Co. has sold a five-property student housing portfolio comprising 1,248 units and 3,693 beds across four states – Florida, Texas, Indiana and North Carolina. The transaction marks the largest student housing portfolio sale in the U.S. so far this year, according to a news release by Newmark, which arranged the sale.

“This record portfolio transaction reinforces the burgeoning demand for premium student housing assets adjacent to prestigious universities,” said Ryan Lang, Newmark Multifamily Capital Markets executive vice chairman and head of student housing. “As enrollment numbers continue to rise and campuses expand, investors are seeking more opportunities in well-located, high-quality student housing, a resilient and attractive asset class.”