Investment Fund V

Student Housing Management


A purpose-built student housing management platform operating on the by-the-bed leasing cycle that defines campus-adjacent communities.

$0.710B
Committed Capital
17–22%
Net IRR Target
8 yr
Fund Term
Student
Strategy
Strategy

Investment thesis

UpManagement Fund V acquires management operators specializing in student housing and runs them on a single platform tuned to the academic calendar. Student housing lives or dies on the pre-lease cycle, the turn between academic years, and parent-guarantor collections — a rhythm that generalist managers rarely master. The fund concentrates on by-the-bed leasing operations, roommate matching, high-velocity summer turns, and campus-partnership management, applying leasing automation and collections technology to hit full pre-lease before each academic year.

Terms

Fund architecture

VehicleDelaware Limited Partnership
Term8 years (+ two 1-year extensions)
Preferred return8% preferred return
Carried interest20% carried interest above preferred
WaterfallAmerican waterfall with GP clawback
Minimum LP$1,000,000
AuditorPricewaterhouseCoopers LLP
Legal counselLePore Law Group
Target net IRR17%–22% net
Target assets

Where this fund concentrates

  • Purpose-built off-campus student housing communities
  • By-the-bed and individual-lease residential operations
  • University and public-private partnership housing management
  • Campus-adjacent mixed student and conventional communities
Operating discipline

The numbers we run to

Every managed property is held to weekly operating metrics. These are the disciplines that distinguish an institutional operator from a passive fee collector.

Pre-lease velocity

Beds leased ahead of academic-year start

Turn completion

Summer make-ready on schedule

Collections rate

Resident and guarantor realization

Renewal capture

Returning-resident retention

Property management is the most undervalued operating layer in real estate. Run it like the business it is.
Alexandra Pohl, Founder and CEO

Speak with our investor relations team

For fund materials, capital account information, and partnership inquiries, reach UpManagement directly.

Contact Investor Relations