Axium Infrastructure to Acquire 95% Stake in University of Kansas Student Housing Project, Names Asset Living Manager

Axium Infrastructure announced Nov. 3 that one of its managed funds has agreed to acquire a 95% interest in an on-campus student housing project under construction at the University of Kansas in Lawrence, Kansas. Asset Living has been retained as property manager for the development.

The firm said the project will consist of a purpose-built undergraduate student housing community across two residential buildings in the KU Gateway District. Together the buildings will comprise 199 units and 482 beds, or roughly 2.4 beds per unit. Construction started in June 2026, and the buildings are expected to welcome students for the 2028-29 academic year.

Deal Structure: 99-Year Air Rights Lease

The project will operate under a 99-year Air Rights Lease with the University of Kansas and its affiliates for the development and operation of purpose-built student housing. The site is within the KU Gateway District, next to David Booth Kansas Memorial Stadium.

The development team includes Edgemoor Infrastructure & Real Estate and Sunflower Development Group. In the announcement, Thierry Vandal, President of Axium Infrastructure US Inc., referred to the partnership with the university and the Edgemoor/Sunflower team.

"We are delighted to partner with the University of Kansas and Edgemoor/Sunflower team on a project that is creating additional housing capacity which will serve students for generations to come," Vandal said. "This investment further strengthens Axium's growing social infrastructure portfolio in the United States and demonstrates our commitment to investing in essential assets that support both academic institutions and their students."

Asset Living Role

Asset Living has been retained as property manager and will lead leasing efforts. The company will also oversee staffing, facility maintenance, billing and collections.

Part of Broader Gateway District Plan

The student housing is one component of the larger KU Gateway District, a campus-adjacent mixed-use hub. The district also includes a 162-room hotel with condominiums, 43,000 square feet of retail, dining and office space, parking, and a 20,000-square-foot outdoor plaza.

Student Housing Market Context

The transaction comes as the student housing sector faces rising supply alongside steady demand. Across Yardi's 200-university sample, preliminary September 2026 occupancy was 94.5%, roughly in line with the historical average. More than 31,000 off-campus beds were delivered during 2026, up 20% from 2025. Projects delivered in 2026 averaged 84.1% occupancy in September, compared with 95.3% for projects delivered in 2025.

Rent growth has moderated. Average advertised rent was approximately $928 per bed in September 2026, up 1.6% year over year, while same-store leasing-season rent growth was approximately 0.5%. Another 18,500 beds remained under construction across the tracked markets.

Walker & Dunlop reported that capital is favoring markets with limited new supply and consistent enrollment growth, while supply-heavy markets face slower lease-up and near-term rent pressure. Enrollment in the markets it tracks was 4.9 million students, up 1.8% year over year, while average rent per bed for academic year 2026-27 was approximately $915, down 0.2%. The report estimated roughly 100,800 beds of deliveries against 146,300 beds of demand, a 1.45x national absorption ratio.

About Axium Infrastructure

Axium Infrastructure describes itself as an independent portfolio management firm focused on generating long-term returns through core infrastructure assets. The firm had over US$10 billion in assets under management as of June 30, 2026, as well as approximately US$2 billion in co-investments. It has offices in Montreal, Toronto, Vancouver, New York and London, and has invested in more than 310 infrastructure assets since 2010. The firm said it focuses on assets supported by robust market demand and under long-term contract with creditworthy counterparties.

The KU project is a specialized social-infrastructure investment within that broader platform rather than a conventional multifamily acquisition. As the development moves from construction toward marketing and lease-up ahead of the 2028-29 academic year, leasing execution by Asset Living will be a central operating task.

Sources

• Axium Infrastructure press release, Nov. 3, 2026: https://www.axiuminfra.com/wp-content/uploads/2026/11/Axium_Press-Release_Campus-Housing-University-of-Kansas.pdf