Campus Advantage Buys Michigan State Property

by Scott Reid

East Lansing, Mich. – Campus Advantage has acquired Hannah Lofts in East Lansing, Mich., located east of the Michigan State campus, the largest university in the state with a total enrollment of 49,300 students.

Hannah Lofts includes 282 units and 702 beds. It features townhome-style units, which are rare in the East Lansing market, Campus Advantage says. The property is 99 percent occupied.

Campus Advantage says this acquisition makes the company the largest acquirer of student housing assets for the period of January 2013 through October 2014 with $354 million in acquisitions, according to Real Capital Analytics and Campus Advantage. Campus Advantage has acquired 11 student housing properties in the past 18 months.

The property’s amenities include a fitness center, study rooms, shuttle system, multi-purpose room, entertainment room, tanning beds, parking deck, computer lab and fire pits. Hannah Lofts is walking distance to both the Michigan State campus and the Lansing Community College East Campus and is close to the Hannah Plaza Shopping District. Its units feature stainless steel appliances, granite countertops, washer and dryer and private bedrooms and bathrooms.

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