Last week, Blackstone announced it was buying American Campus Communities for $13 billion. And it's not the only firm getting into student housing. As colleges and enrollment numbers have grown and admission rates have dropped, investment firms and developers have started investing in and building more and more apartments around college campuses. But when did the asset class become so institutionalized, and why?

Deconstruct talks to Justin Gronlie, Harrison Street's head of education real estate, CBRE's Jaclyn Fitts and Core Spaces COO Chad Matesi.

Credits: Yahoo! Finance and CNBC.