Stonepeak completed the acquisition of student housing portfolio of Cardinal Group.

Stonepeak, a private equity firm, completed the acquisition of student housing portfolio of Cardinal Group, a property management firm. Financial terms were not disclosed. “This acquisition reflects our conviction in the resilience and long-term fundamentals of well-located student housing, and we are excited to add these assets to our portfolio. With growing enrollment trends and embedded demand for assets adjacent to campus, we look forward to delivering both high-quality living experiences for students and strong performance for our investors,” Phill Solomond, Stonepeak Senior Managing Director and Head of Real Estate.