Northside at UTD gains new investors as CC&L Infrastructure and Bestinver expand into student housing infrastructure
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and Bestinver Infra (Bestinver) have announced their acquisition of a majority interest in the Northside student housing project (Northside or the Project).
Located at the University of Texas at Dallas (UTD), Northside comprises student housing facilities built in four phases between 2016 and 2021. The facilities include approximately 1,200 units with the capacity to house over 2,500 students.
Balfour Beatty, the international infrastructure group, remains the property manager and retains a minority equity ownership stake in the Project.
The acquisition involved the entirety of the interest held by funds managed by Tikehau Capital North America LLC, operating as Tikehau Star Infra.
UTD, one of the highest-ranked public universities in Texas, offers over 140 academic programs and hosts more than 50 research centres and institutes.
With a current enrolment of approximately 30,000 students, the university supports Northside’s long-term land leases, which average over 50 years remaining across the facilities.
Matt O'Brien, president of CC&L Infrastructure, emphasized the importance of the acquisition, stating, “We are excited to further diversify our portfolio of infrastructure assets with the acquisition of this interest in Northside, which marks our first investment in the student housing sector.”
He noted that Northside provides an essential service to the University of Texas at Dallas (UTD) student community and supports its growing enrolment base.
O'Brien added that they look forward to collaborating with partners and UTD to ensure the successful operation of Northside in the years ahead.
Francisco del Pozo, head of Infrastructure Funds at Bestinver, highlighted the investment’s strategic importance, stating, “Our investment in Northside underscores our continued focus on high-quality, stable and resilient assets in North America.”
He added that it is the first of several planned investments in the region through Fund II.
Agentis Capital served as financial advisor, Deloitte acted as accounting and tax advisor, and Infrata was engaged as technical advisor for CC&L Infrastructure and Bestinver.
