The acquisition will expand the company's current conventional portfolio to include a student housing division.
The acquisition of Grand Campus Living includes the transition of current contracts, management, and on-site team members to the Lincoln brand. The Grand Campus Living division will continue to operate as a separate entity, with individual operations, accounting, marketing, and training departments, but will benefit from Lincoln's long-standing industry reputation and relationships.
According to Scott Wilder, Executive Vice President of Residential Management at Lincoln Property Company, "We are excited about the potential growth this acquisition brings to the table. Grand Campus Living is an expert on student housing and we're confident that their experience and knowledge will help Lincoln successfully merge into a market we've yet to explore."
Grand Campus Living currently provides management services to just over 7,200 beds, approximately 2,900 units, nationwide and provides a full range of property management and consulting services for high-rise, mixed-use, and garden style communities. A majority of GCL's portfolio serves students at some of Texas' most well-known universities such as Texas A&M in College Station and University of Texas in Austin. Other GCL-managed student housing communities can be found near Florida State University, University of South Florida, Boise State University, Oregon State University, and University of New Hampshire.