CA Student Living Bolsters Leadership Team

CA Student Living (“CASL”), the leading vertically integrated student housing developer and investment management company, today announced the appointment of Sean Spellman, CA Ventures managing principal and chief development officer, and Thierry Keable, senior vice president of QuadReal’s Operating Partner Group and CASL board member, as interim presidents. Additionally, industry veteran David Rose, who previously served as head of institutional capital for CASL and principal at Walton Street focused on investment strategy and capital formation, has been promoted to the role of chief investment officer – rounding out CASL’s already robust leadership team. 

As CASL continues on its impressive growth trajectory, it is critical that we have a strong, passionate and energetic leadership team to guide the ship,” said Tom Scott, chief executive officer and board chair for CASL. We are lucky to have Sean and Thierry, two strategic leaders with complementary expertise, stepping in to support our high caliber team. Partnering with David Rose and the rest of the leadership team, we continue to be well positioned to execute on our mission and capitalize on the growing opportunity set for all aspects of the business — investments, development and property management.”

Over the past few months, the student housing company has acquired five well- located, high-quality assets totaling 2,178 beds, and has amassed more than $200 million in equity commitments in the third quarter alone under Rose’s strategic direction as he supports the growth of CASL’s portfolio through the broadening of its network of institutional clients as investors grow increasingly bullish on the sector. The additional capital allows CASL to execute on its goal of scaling the business three-fold over the next five years while further building its pipeline of high-quality student assets catering to top university markets seeing growing enrollments. 

CASL recently celebrated the delivery of four student communities in 2021 despite the countless challenges presented by the COVID-19 pandemic, as well as a record pre-leasing season reaching 95% leased across its combined, new development and same-store, portfolio. CASL currently has $1.5 billion of active construction projects expected to deliver by the fall of 2023, and more than $1.5 billion of active new development pipeline. The platform is planning to deliver another five developments in 2022 and six in 2023.