Springfield, Mo. — Rittenhouse Realty Advisors/GREA and Triad Real Estate Partners have arranged the $25.7 million sale of The Vue on Walnut, a 348-bed student housing property near Missouri State University. The property is located at 430 E. Walnut St. in downtown Springfield and was built in 2019 by the seller, St. Louis-based Cornerstone Development. The buyer was Atlanta-based Student Quarters. Chicago-based Triad Partners and Philadelphia-based Rittenhouse Realty Advisors/GREA teamed up to represent the buyer and seller in the transaction. The community was 100 percent occupied at the time of …
Missouri
Columbia, Mo. — Aspen Square Management has acquired Elevate231, a 972-bed student housing property located two miles from the University of Missouri campus in Columbia. Mike McGaughy, Jon Kleinberg and TJ Redmod of Transwestern Real Estate Services represented the seller, Rialto Capital Advisors, in the disposition of the property for an undisclosed price. The community offers a mix of two-, three- and four-bedroom cottage-style units. “Investors were attracted to Elevate231’s strong physical attributes, historically high occupancy and value-add potential,” says McGaughy. “With rents as low as 22 percent below market, …
Cushman & Wakefield Arranges Sale of 704-Bed Portfolio Near the University of Missouri
Columbia, Mo. — Cushman & Wakefield has arranged the sale of two student housing properties located near the University of Missouri in Columbia. Dispositions include Forest Village and Woodlake, which offer 352 units in total. Travis Prince, Shawn Lubic, Victoria Marks and Matthew Stephens of Cushman & Wakefield represented the seller, Saban Real Estate, in the transaction. Worcester Investments acquired the properties for an undisclosed price. “This portfolio offered two assets with proven track records of outperforming the market based on their strategic decision to tap into the high demand for …
Columbia, Mo. — Vesper Holdings has acquired The Domain, a 654-bed student housing community located near the University of Missouri campus in Columbia. The property was acquired in partnership with funds managed by affiliates of Fortress Investment Group for an undisclosed price. Built in 2013, The Domain offers a mix of fully furnished one-, two- and four-bedroom units with bed-to-bath parity. Shared amenities at the property include a fitness center, study space, a golf simulator, movie theater, game room, volleyball court and a resort-style swimming pool.
Hamilton Point Investments Acquires 552-Bed Student Housing Property in Columbia, Missouri
Columbia, Mo. — Hamilton Point Investments has acquired The Den, a 552-bed community serving students attending the University of Missouri in Columbia. Mike McGaughy and Jon Kleinberg of Transwestern Real Estate Services arranged the sale on behalf of the undisclosed seller. The property offers a mix of studio, two- and four-bedroom fully furnished units. Communal amenities include a fitness center, volleyball and basketball courts, a saltwater swimming pool with a sundeck, game room, tanning booth, dog park, clubhouse, lounge areas, conference rooms, an outdoor kitchen and grilling station, and fire …
The Scion Group Awarded Management of 509-Bed Community Near Missouri State University
Springfield, Mo. — The Scion Group has been awarded management of The 505, a 509-bed student housing community currently under development by College Town International (CTI) near Missouri State University in Springfield. “We are delighted to work with CTI, a talented developer that shares our commitment to deliver the best possible residential experience for students,” says Rob Bronstein, president and co-founder of The Scion Group. “Our team is already on the ground in Springfield and looks forward to serving the Missouri State University market at The 505, which will be …
Springfield, Mo. — Coastal Ridge Real Estate has been awarded management of Elevate Student Living, a four-community portfolio of student housing properties located near Missouri State University in Springfield. The portfolio includes 800 South, Deep Elm, The Jefferson and The Q’ube, all of which offer one-, two-, three- and four-bedroom units alongside shared amenities including a fitness studio, pet park and study lounge. The properties are owned by ARTISAN Capital Group, a Chicago-based multifamily and student housing investment manager.
Columbus, Ohio — Coastal Ridge Real Estate has been awarded management of four student housing communities owned by Hallmark Campus Communities. New assignments include West Pine Lofts, a 365-bed community located near St. Louis University in Missouri; University Edge Cincinnati, a 344-bed community serving students attending the University of Cincinnati; University Edge Youngstown, a 546-bed community located adjacent to Youngstown State University in Ohio; and University Edge & Dickinson Lofts, a 413-bed community near East Carolina University in North Carolina. “We’re excited about the opportunity to welcome these four assets …
St. Louis — Coastal Ridge Real Estate has been awarded management of The Standard at St. Louis, a 465-bed student housing community serving St. Louis University in Missouri. The property offers a mix of one-, two-, three-, four- and five-bedroom units. Shared amenities include a resort-style swimming pool, fire pits, an 8,000-square-foot clubhouse, a media room, coffee lounge, private and group study rooms and a fitness center.
Springfield, Mo. — Triad Real Estate Partners has arranged the sale of 800 South, a 108-bed student housing community located near Missouri State University in Springfield. The property was developed in 2018 and offers a mix of one- and two-bedroom units. Shared amenities include a pet park, cardio fitness studio and a study space. The property was sold by an undisclosed local developer to a Chicago-based private real estate firm. Terms of the transaction were undisclosed.