Coastal Ridge Acquires UK Student Housing Amid Investment Frenzy

PAOLI, PA – May 20, 2026 – In a move that underscores the fierce institutional demand for student housing, TSB Realty, LLC has successfully brokered the sale of Campus Court, a 398-bed community serving the University of Kentucky. The property was acquired by Coastal Ridge Real Estate, a prominent real estate investment firm, marking a significant addition to its growing portfolio. The transaction, financed by J.P. Morgan’s Real Estate Banking group, highlights the continued flow of capital into properties near major flagship universities.

TSB Capital Advisors, an affiliate of the brokerage, arranged the acquisition financing, demonstrating a comprehensive, integrated approach to closing the deal. Campus Court represents the fourth asset acquired by Coastal Ridge's inaugural institutional fund, the Coastal Ridge Value-Add Student Housing Fund, LP, signaling a clear and aggressive strategy focused on high-growth university markets.

A Hot Market for Student Housing

The acquisition arrives at a time when the student housing sector, particularly around top-tier universities, is experiencing a surge in investment. The combination of rising enrollment and a persistent housing shortage has created a landlord's market in many college towns. Lexington, Kentucky, home to the University of Kentucky, is a prime example of this trend. The city is facing a significant housing deficit, estimated at over 22,000 units, while housing costs have reportedly skyrocketed by 100% over the last decade, far outpacing wage growth.

This environment makes purpose-built student housing like Campus Court an exceptionally attractive asset. With a current occupancy rate of 99%, the property demonstrates the robust demand. The University of Kentucky itself is described as a “highly desirable SEC school with record-breaking enrollment,” a key factor driving investor confidence.

“Campus Court is another outstanding addition to Coastal Ridge’s portfolio—a strategically located property with significant upside, serving a highly desirable SEC school with record-breaking enrollment,” said Tyler Martin of TSB in a statement. The national average rent per bed for student housing has climbed significantly, reflecting the sector's strength and resilience as an investment class.

Coastal Ridge's Strategic Expansion

For Coastal Ridge, the purchase of Campus Court is a calculated move that fits perfectly within its established investment thesis. The firm's strategy centers on acquiring properties at flagship state universities that exhibit strong enrollment growth and offer a compelling market position. This is the fourth such acquisition for its Value-Add Student Housing Fund, LP.

Previously, the fund deployed capital to acquire nearly 1,600 beds across three properties near Iowa State University and Louisiana State University, both also members of major athletic conferences. This pattern reveals a disciplined focus on assets with strong underlying fundamentals and the potential for enhancement. The firm's leadership has noted that the current market, characterized by moderating new supply and sustained demand, presents an opportune moment for such acquisitions.

“The acquisition of Campus Court aligns with our core focus of acquiring properties at flagship state universities with growing enrollment, at an attractive basis with compelling market positioning,” stated Rick Travis with Coastal Ridge. “We are excited to add the University of Kentucky and another SEC school to our Fund’s portfolio.”

Founded in 2013, Coastal Ridge has rapidly evolved from a property management company into a vertically integrated investment firm. Headquartered in Columbus, Ohio, the firm now manages over $6.0 billion in assets, with a portfolio comprising more than 45,000 units and student housing beds, ranking it among the largest student housing owner-operators in the nation.

The Power of an Integrated Approach

Facilitating a transaction of this scale requires deep expertise in both sales and finance, a combination that TSB showcased in this deal. TSB Realty, the firm's brokerage arm, managed the sale, while its advisory division, TSB Capital Advisors, secured the acquisition financing from J.P. Morgan. This dual capability provides a seamless, end-to-end service for clients, streamlining what can often be a fragmented and complex process.

This integrated model is a significant competitive advantage in the fast-paced real estate market. “It was a pleasure for TSB Realty and TSB Capital Advisors to work with Coastal Ridge and J.P. Morgan to get this deal done,” Martin's statement continued, highlighting the collaborative success of the transaction.

TSB's track record solidifies its position as a market leader. Since its inception in 2014, TSB Realty has closed over $11 billion in student housing sales. Meanwhile, TSB Capital Advisors, founded in 2009, has been instrumental in over 550 deals, representing more than $80 billion in student housing and multifamily transactions. The involvement of J.P. Morgan further validates the deal's quality, as its Real Estate Banking division specializes in providing customized financing solutions to top-tier commercial real estate investors and funds.

A Closer Look at the Asset

Campus Court itself is a well-established community located just a half-mile from the University of Kentucky campus. Originally constructed in 1988 and enhanced with additional townhome-style units in 2008, the property offers a diverse mix of one-, two-, and three-bedroom floor plans. The 238 units have been updated to meet modern student expectations, featuring stainless-steel appliances, in-unit washers and dryers, hardwood-style flooring, and keyless entry.

The community's amenities are designed to foster both academic success and a vibrant social life. They include a resort-style pool and lounge deck, a fitness center, a basketball court, a dog park, private study rooms, and a TV lounge and game room. This comprehensive package of features, combined with its prime location and the high demand in the Lexington market, ensures its continued appeal to students and makes it a valuable addition to the Coastal Ridge portfolio.