SINGAPORE (June 2): Mapletree Investments, the Temasek-backed property development, investment and capital management company, acquired a portfolio of assets from Kayne Anderson Real Estate Advisors worth US$1.6 billion ($2.2 billion).

The portfolio comprises eight purpose-built student housing assets with 3,611 beds in the US and 140 beds in Canada, as well as four multi-family assets with 1,388 units in the US.

Citigroup Global Markets acted as the exclusive financial adviser to Kayne Real Estate on the entirety of the sale transactions with Mapletree.

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