Stillwater, Okla. — The property was purchased by Avenue East Apartments LLC, an affiliate of The Scion Group.
Colliers International Student Housing Group has closed the sale of Avenue East (formerly The Grove at Stillwater), a 612-bed, 206-unit student housing community near Oklahoma State University. The sellers were Campus Crest Communities and Harrison Street Real Estate Capital. The property was purchased by Avenue East Apartments LLC, an affiliate of The Scion Group. Dorothy Jackman, Travis Prince and Sean Baird of Colliers International Student Housing Group represented the seller, with local support from Patrick Coates of Coates Commercial Properties in Tulsa, Oklahoma.
Avenue East, located exactly one mile from Oklahoma State, has one- to-four-bedroom apartments plus 3-story townhomes, most with private bedroom-bathroom suites. All apartments are fully furnished and equipped with full kitchens and in-unit laundry. The Scion Group has announced a $1.4 million repositioning project to improve apartment interiors, in connection with a rebranding that took place upon acquisition. Property amenities also include bus service to Oklahoma State seven minutes away, meeting and study spaces, a clubhouse with game room and coffee bar, 24-hour on-site management, tanning beds, basketball and sand volleyball courts, 24-hour fitness center, a swimming pool and a hot tub.