Campus Apartments Acquires Three Communities for $116 Million

by Scott Reid

Philadelphia — Campus Apartments has acquired three off-campus student housing communities, totaling 1,707 beds, for a reported $116 million. The properties serve students of Texas A&M University, Syracuse University and Lehigh University.

The acquisitions include Meadows Point, a 628-bed, garden-style property located in College Station, Texas; Campus Hill – Syracuse, a 695-bed scattered-site portfolio in Syracuse, New York; and Campus Hill – Lehigh, a 384-bed scattered-site portfolio in Lehigh, Pennsylvania.

Campus Apartments will reposition these assets through apartment and common area upgrades, as well as a rebranding program that will complement the physical improvements. The most significant repositioning will occur at Meadows Point, which will undergo a multi-million dollar renovation program that will include upgraded kitchens and bathrooms in each of the units as well as a new clubhouse, fitness center and dog park.

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