CBRE Brokers Sale of Two Student Housing Communities Near the University of Michigan

by Katie Sloan

Ann Arbor, Mich. — CBRE has brokered the sale of two student housing communities located adjacent to the University of Michigan campus in Ann Arbor. Kayne Anderson Real Estate purchased both properties from Campus Apartments for an undisclosed price. Acquisitions include Six11, a 350-bed high-rise community; and The Yard, a 594-bed community. Jaclyn Fitts, Williams Vonderfecht, Casey Schaefer, Jack Johns and Hank Carpenter of CBRE arranged the transaction. Built in 2018, Six11 offers shared amenities including a fitness center, study lounge, penthouse lounge, rooftop terrace and fire pits. The Yard was also built in 2018 and features a two-story clubhouse, heated pool, study and gaming lounges, and a courtyard with a grilling station and fire pits. The University of Michigan has experienced enrollment growth of 11.4 percent over the past five years, while reaching a record low acceptance rate of 18 percent for the fall 2022 academic year. 

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