$1b deal catapults Campus Apartments into pole position.

A $1 billion deal with the GIC Real Estate is set to catapult the nation's oldest student housing company into the leading position in the national college housing market.

Campus Apartments, Inc. this week announced a billion dollar venture with GIC, the real estate investment arm of the Government of Singapore Investment Corporation, marking the first time the privately owned Campus Apartments has brought in an institutional investor.

The venture will effectively transform Campus Apartments into one of the largest private student housing companies in the country and enable the firm to continue its growth nationally by developing and acquiring undergraduate, graduate and faculty housing, for-sale condominiums and related mixed-use development properties, both on and off-campus.

David Adelman, president and chief executive officer of Campus Apartments, said, "We explored our options, including going public, and evaluated several institutional investors interested in providing capital for the venture. We decided to work solely with GIC RE because we believe this is the best course for our company and future growth. We like GIC RE's investment philosophy and international presence.

"The venture will enable us to execute on a healthy pipeline of deals throughout the country. Furthermore, we believe the industry is highly fragmented and we plan to look for opportunities to consolidate and extend our role as an industry leader."

Deutsche Bank Securities, Inc. served as exclusive advisor to Campus Apartments in the capital sourcing and structuring of this transaction.