Joint Venture Acquires 654-Bed Community Near Michigan State University

East Lansing, Mich. — A joint venture between Monument Square Investment Group and affiliates of Harbor Town Capital has acquired 25 East, a 654-bed student housing community located near the Michigan State University campus in East Lansing. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Jack Johns, Hank Carpenter and Maria Pas with CBRE brokered the transaction on behalf of the undisclosed seller. Developed in 1999, the garden-style property offers units in a mix of one-, two- and four-bedroom configurations. Shared amenities include a recently renovated clubhouse with study rooms, entertainment space, fitness center, resort-style pool, grilling stations and basketball and sand volleyball courts. The joint venture plans to implement improvements across the property, including renovations to the fitness center and residential common areas. The community was 99 percent occupied at the time of sale. Terms of the transaction were not released.