Fredonia, N.Y. — The class B/C portfolio consists of three properties near campus.
Brigham Apartments in Fredonia, N.Y., were purchased by RRG.Fredonia, N.Y. —The SUNY Fredonia student housing portfolio, which consists of three properties totaling 336 beds within walking distance to the SUNY-Fredonia campus, has sold to RRG, a Philadelphia-based real estate investment and management firm focused primarily on owning and operating multifamily assets. The ARA (Apartment Realty Advisors) Student Housing team of Chris Epp, Chris Bancroft and Meredith Wolff represented the private, New York-based sellers in the transaction. The portfolio is made up of Temple Street Townhomes, Brigham Apartments and Campus Edge Townhomes. The B/C portfolio was built during the 1970s.
“ARA aggressively marketed the SUNY Fredonia Portfolio to our deep investor list and procured multiple bona fide offers,” Epp says. “It was encouraging to see such a strong level of interest from buyers and lenders in student housing at a smaller, well-established university.”