Student Living Asset Management (Slam) is pleased to announce that it has received mezzanine debt funding to acquire a 51% majority stake in Stellenbosch student residence, Academica.
Source: Supplied. Tshandu Ramusetheli, chief executive officer at Maia Capital.
Slam is a South African real estate private equity fund specialising in student accommodation. It received funding for this acquisition from Maia Capital Partners through its Maia Debt Impact Fund I (Maia Capital).
Academia offers over 1,000 beds across 28 landscaped blocks with a restaurant, padel and volleyball courts, as well as biometric access, CCTV, and 24-hour security.
Established in 2000 and managed internally for over 25 years, it supports a 20% international cohort and upholds a strong Code of Conduct for a safe, community-focused student experience.
Tshandu Ramusetheli, chief executive officer at Maia Capital, remarked: “We are delighted to partner with Slam on this landmark transaction, which reflects our commitment to addressing the pressing shortfall of student accommodation in South Africa."
"Our partnership with Slam not only enhances our portfolio but aligns with our gender-focused investment strategy; by prioritising female tenants at Academia, and with an all-female management team ensuring exemplary operations, we are fostering an inclusive environment for students.
"Partnering with real-estate firms like Slam is crucial for the growth of educational infrastructure in our country. Such developments create jobs and contribute significantly to bridging the demand gap for student accommodation.”
Strategic anchor acquisition
This off-market acquisition, completed in partnership with the existing ownership team, demonstrates Slam’s ability to identify and execute complex high-value transactions of ‘best in class’ assets while preserving operational continuity through ‘best of breed’ operators.
“This will be business as usual,” said Ndumiso Davidson, chief executive officer and co-founder at Slam. “Slam invests in assets of scale in defensive locations with a strong operating track record and demonstrable long-term student demand. Academia exemplifies the profile of assets we seek to provide our investors.
"We are joining forces with the existing leadership team. There will be no disruption, no staff overhaul, and no operational restructuring. We’re here to build on a strong foundation, not to fix an operation that’s already working exceptionally well and that has been the residence of choice in Stellenbosch for the last 25 years.
“This acquisition is a strategic anchor for our national portfolio,” added Romeo Makhubela, chairman of Slam. “It reflects our belief in this sector’s potential to deliver dependable inflation-beating income while directly supporting educational outcomes and youth development.”
