Toledo, Ohio — The portfolio is close to campus, and substantial renovations are planned.
Toledo, Ohio — Campus Crest Communities has purchased 629 beds for $13.8 million across the street from the University of Toledo. The seller was Campus Village of Rochester, Mich., and Triad Real Estate Partners brokered the sale.
According to Triad, the portfolio has undergone some distress in recent years, posting 2012-2013 occupancy of just over 80 percent. Campus Crest plans a substantial renovation and repositioning of the properties, taking advantage of the close-to-campus location.