AEW Capital Management and GMH Communities Acquire Two Student Housing Properties

Philadelphia (December 17, 2025)

The partnership acquires Dockside and Flatiron, expanding its portfolio in Clemson, S.C. and Baton Rouge, La

AEW Capital Management (AEW), a global real estate investment firm with over $86 billion in assets under management, and GMH Communities (GMH), a vertically-integrated real estate company, today announced their joint acquisition of two student housing communities: Dockside and Flatiron. Located in Clemson, South Carolina, Dockside serves students of Clemson University, while Flatiron caters to students attending Louisiana State University (LSU) in Baton Rouge, Louisiana. Both properties are located near their respective campuses, offering convenient access and are outfitted with Class-A amenities.

AEW entered the student housing sector in September 2024 through a two-property acquisition with GMH serving Texas A&M University and the University of Arkansas. With the addition of the Clemson and LSU communities, the partnership will now own and operate more than 2,000 beds across four universities in Power 4 markets.

Gary Holloway, Jr., chief executive officer and president, GMH Communities said, "We stay ahead of trends in the industry and understand what students seek in a community. The acquisition of Dockside and Flatiron underscores GMH's commitment to investing in high-quality, well-located assets within fundamentally strong markets."

Adam Schwank, AEW Portfolio Manager said, "We're excited to deepen our partnership with GMH as AEW continues to build its residential expertise in top student housing markets. Dockside and Flatiron align with our focus on high quality, campus proximate assets backed by strong demand-exactly the kind of fundamentals we seek in an investment opportunity."

Upon acquisition, the 633-bed Dockside community will be rebranded as The Cove at Clemson, offering a premier lakefront setting with direct access to Lake Hartwell. In Baton Rouge, the 293-bed Flatiron community serves LSU students and is recognized as one of the market's few pedestrian-oriented housing options, offering convenience just steps from campus.

The student housing market at Clemson and LSU continues to experience a demand driven by growing university enrollments and a desire for quality off-campus housing. Through this partnership, GMH and AEW aim to further enhance the living experience for students by creating environments that foster both academic and social success.

About AEW

For nearly 45 years, AEW Capital Management, L.P. (AEW) has provided real estate investment management services to investors worldwide. As one of the world's largest real estate investment advisors¹, AEW and its affiliates manage $86.3 billion in private real estate equity, debt and listed securities across North America, Europe and Asia (as of September 30, 2025). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, Denver, London, Paris, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information, please visit www.aew.com.

¹Source: "2025 IREI.Q Real Estate Managers Guide". The Guide, published annually by Institutional Real Estate, Inc., ranks real estate managers based on the gross value of real estate AUM ($m) as of December 31, 2024. As of September 30, 2025. AEW includes (i) AEW Capital Management, L.P. and its subsidiaries and (ii) affiliated company AEW Europe and its subsidiaries. AEW Europe and AEW Capital Management, L.P. are commonly owned by Natixis Investment Managers and operate independently from each other. Total AEW AUM of $86.3 billion includes $41.8 billion in assets managed by AEW Europe and its affiliates, $4.3 billion in regulatory assets under management of AEW Capital Management, L.P., and $40.1 billion in assets for which AEW Capital Management, L.P. and its affiliates provide (i) investment management services to a fund or other vehicle that is not primarily investing in securities (e.g., real estate), (ii) non-discretionary investment advisory services (e.g., model portfolios) or (iii) fund management services that do not include providing investment advice.

About GMH Communities

Headquartered in Newtown Square, PA, GMH Communities is a dynamic, privately held real estate company specializing in the acquisition, development and management of exceptional living communities throughout the United States. Since 1985, GMH has participated in more than 300 transactions representing more than $8.6 billion of gross asset value across all major property types. For more information, visit www.gmhcommunities.com.