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ArizonaInvestment SalesNews

Nelson Partners Acquires 977-Bed Community Near the University of Arizona for $200 Million

by Katie Sloan

Tucson, Ariz. — Nelson Partners Student Housing has acquired Sol y Luna, a 977-bed student housing community serving the University of Arizona in Tucson, for $200 million. The 14-story property was developed in 2013, and features 341 units alongside 9,140 square feet of retail space. The community offers one-, two-, three-, four- and five-bedroom, fully furnished apartments. Shared amenities include an outdoor television lounge, a rooftop pool, hot tub, steam room, fitness center, yoga and dance studio, an outdoor study area, a computer lounge and private study spaces. TSB Realty …

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ArizonaDevelopmentNewsOn-campus

Construction Underway on 374-Bed Residence Hall at Arizona State University Polytechnic

by Katie Sloan

Mesa, Ariz. — Construction is underway on a 374-bed mixed-use community on the Arizona State University Polytechnic campus in Mesa. The $34.2 million community is being developed by a public-private partnership between the university, Capstone Development Partners and equity partner Harrison Street. The development will offer private- and shared-bedroom suites alongside shared amenities including a main floor lounge and common kitchen; study space and lounges on each floor; and 8,500 square feet of academic space including classrooms, offices and conference and meeting areas. The project is scheduled for completion in …

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ArizonaInvestment SalesNews

TSB Realty Arranges Sale of 775-Bed Community Near Arizona State University

by Katie Sloan

Tempe, Ariz. — TSB Realty has arranged the sale of Sterling 920 Terrace, a 775-bed student housing community located near Arizona State University in Tempe. The property offers studio, one-, two- and four-bedroom units. Shared amenities include a pet park; resort-style swimming pool and hot tub; a poolside lounge with hammocks and a television; a two-story fitness center, yoga area and boxing room; grilling stations; a fire pit; a business center; and private study rooms. Coastal Ridge Real Estate purchased the property in a joint venture with iA Financial Group …

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Landmark Properties Opens Nine Communities Totaling $950 Million

by Katie Sloan

Athens, Ga. — Landmark Properties has opened nine new student housing developments valued in excess of $950 million. The new deliveries total 6,166 beds and are located in North Carolina, Arizona, Alabama, Texas, Illinois, Florida and Pennsylvania. Openings include:  The Station at Raleigh, a 658-bed, cottage-style community serving students at North Carolina State University in Raleigh. The property offers one-, three- and four-bedroom units. Shared amenities include a 10,500-square-foot clubhouse, resort-style swimming pool, hot tub, 24-hour fitness center, sauna, study lounge, computer lab, yoga studio, sand volleyball court and an …

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ArizonaFinanceInvestment SalesNews

Berkadia Arranges $22 Million Acquisition Financing for 164-Unit Community Near Arizona State

by Katie Sloan

Tempe, Ariz. — Berkadia has arranged $22 million in acquisition financing for MarQ at 1st, a 164-unit community located one mile northwest of the Arizona State University campus in Tempe. Scott Holland and Jeremy Hammill of Berkadia Commercial Mortgage secured the loan through NXT Capital. Terms of the financing and the identity of the borrower were undisclosed. The community offers shared amenities including two swimming pools, a 24-hour fitness center and outdoor picnic and barbecue areas. 

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ArizonaInvestment SalesNewsOff-campus

Nelson Partners Acquires 128-Bed Community Near the University of Arizona

by Katie Sloan

Tucson, Ariz. — Nelson Partners has acquired Wildcat Canyon Village, a 128-bed student housing community located two blocks from the University of Arizona campus in Tucson. The value-add property offers one- and two-bedroom units with shared amenities including a swimming pool with a sun deck, clubhouse, basketball court, coffee bar, study lounge and a game room. The community is set to undergo interior and exterior renovations, to include the installation of hot tubs and the addition of new countertops, lighting, top of the line appliances and fixtures to unit interiors.

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