CBRE Brokers Sale of 876-Bed Community Near the University of Georgia

Athens, Ga. — CBRE has brokered the sale of The Connection at Athens, an 876-bed student housing community located near the University of Georgia campus in Athens. CBRE National Student Housing’s Jaclyn Fitts, William Vonderfecht and Casey Schaefer represented the sellers, Pierce Education Properties and Nuveen Real Estate, in partnership with CBRE Pittsburg Multifamily’s Laura Lawrence and Melissa Maggi. Priderock Capital Partners acquired the community for an undisclosed price. The Connection at Athens offers shared amenities including a resort-style pool pavilion with four pools, clubhouse, private study rooms, grilling stations, a fire pit, basketball court, sand volleyball court, game room and dog park. “The Connection at Athens achieved greater than 99 percent occupancy for seven consecutive years,” says Schaefer of CBRE. “The property’s strong performance coupled with its expansive amenity base and value-add upside at scale provided an attractive opportunity for investors in one of the nation’s most desirable student housing markets.”