AMERICAS NEWS: Studying abroad

Mapletree Investments is looking to a younger age bracket for its second US strategy following a successful bet on corporate lodging starting in 2014.

The real estate arm of Singaporean sovereign wealth fund Temasek Holdings bought a portfolio of 6,000 beds across six states from the Boca Raton, Florida-based alternative investment manager Kayne Anderson Real Estate Advisors. The terms of the transaction, which was announced in November, were not disclosed.

Mapletree began investing in the US in 2014 through a partnership with Oakwood Worldwide, a Los Angeles-based corporate lodging provider.

In March, it reportedly entered the student housing sector with the acquisition of 25 properties in the UK for £417 million ($518 million; €486 million).

Now, Mapletree intends to scale its student housing portfolios on both sides of the Atlantic, calling the property type “defensive and resilient” in a November statement.