Missouri

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 …

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, …

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 …