XFD Real Estate announced today the acquisition of The George Student Living, a 184-unit, 364-bed student housing community serving students at Georgia Southern University in Statesboro, Georgia.
The acquisition marks XFD’s second investment in the market and expands the firm’s total Statesboro footprint to 1,552 beds, reinforcing its long-term commitment to one of the Southeast’s most established student housing markets. XFD has owned and operated student housing assets in Statesboro since 2020 and will continue operating both communities moving forward, broadening its product offering and the segment of the student market it serves.
XFD acquired the property in partnership with Anchor Real Estate Capital, continuing a long-standing relationship through which the firms have collectively acquired more than $200 million in student housing assets.
The George is a well-located, garden-style student housing community situated on the Blue Mile adjacent to the Georgia Southern campus, offering students an affordable housing option with convenient access to the university and surrounding retail corridor. The property features a mix of apartment-style floorplans and community amenities including a swimming pool, fitness center, basketball court, clubhouse, and study areas. XFD plans to invest approximately $1.2 million into interior renovations and strategic capital improvements designed to enhance the resident experience and preserve the property’s long-term positioning within the market.
“This acquisition is a continuation of the strong relationship we’ve built with Anchor over many years and multiple successful investments,” said Sam Mtunga, Founder and CEO of XFD Real Estate. “Statesboro has been an important market for us since 2020, and we believe this acquisition presents an opportunity to build on the success we’ve achieved there while expanding the range of housing options we can offer students at Georgia Southern. We continue to believe strongly in the long-term stability and liquidity of the Statesboro market and remain focused on executing a disciplined, operations-driven investment strategy.”
The acquisition aligns with XFD’s broader strategy of investing in well-located student housing communities within strong university markets and creating long-term value through hands-on operations, thoughtful capital improvements, and a continued focus on delivering a high-quality living experience to students at an attainable price point.
CBRE represented the seller in the transaction, while Newmark arranged acquisition financing on behalf of the buyer.