Bankier Portfolio at University of Illinois

CCP acquired the entirety of the Bankier Portfolio through an off-market transaction and successfully closed on 35 assets in under 60 days. Since acquisition, CCP has sold approximately a quarter of the portfolio at our Year-5 exit assumptions, delivered the remaining assets with low-interest, low-leverage debt, added an additional institutional-grade asset to the portfolio, converted over a third of the commercial leases to NNN leases, and optimized operations by implementing our scattered-site-management expertise. We are on track to lease the student housing portfolio up to 100% occupancy for the 2023-2024 academic year at rents 20% higher than those that were in place at acquisition.