A joint venture between GMH Communities and Invesco Real Estate has completed the purchase of two student-housing sites in West Lafayette, Indiana. Together the assets provide a total of 540 beds for students attending Purdue University. The acquisition includes Grant Street Station, a complex of 136 units that contains 288 beds, and the smaller South Street Station, which comprises 40 units and offers 76 beds. Both properties sit less than a quarter-mile from the university campus, placing them within easy walking distance of classrooms, libraries and campus services.
The two sites are equipped with a range of resident amenities. Each building houses a fitness center, a swimming pool and dedicated parking spaces for tenants. Current leasing activity shows that every unit is occupied for the present academic year, indicating strong tenant demand. The transaction was arranged by Randall Calvert, executive managing director at TSB Realty. Although the purchase price was not disclosed, comparable student-housing assets changed hands for $40.5 million in 2017, according to industry data.
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Student-housing demand continues to stay robust across the nation. Pre-leasing activity for major universities climbed to 89.1% in July 2026, up from 79.1% the previous year. This rise reflects heightened competition for the limited supply of housing located close to campus buildings. In response, investors have pursued multiple acquisitions this year, adding a 642-bed property in Mississippi and a 212-bed complex in Washington, D.C. to their portfolios.
GMH Communities is a privately held firm that has built a portfolio of more than 90,000 student-housing beds over its four-decade history. Invesco, a global asset manager, oversees real-estate holdings valued at $86.3 billion. The partnership’s latest purchase fits into a broader pattern of consolidating student-housing assets near high-ranking universities, where demand and rental yields remain attractive.