Newmark Brokers Sale of Four-Property Student Housing Portfolio Across Southeast, Illinois

Austin, Texas — Newmark has brokered the sale of a four-property portfolio of mid-rise student housing properties totaling 1,441 beds. The properties are situated adjacent to public universities in the Southeast and Illinois.

Ryan Lang, Jack Brett, Ben Harkrider, Tim McKay, Debra Corson, Blake Pera and Dean Smith of Newmark represented the seller, Rael Corp., in the transaction. The sales price and the buyer were not disclosed.

The properties include Gather Illinois, which is located near the University of Illinois at 410 North Lincoln Ave. in Urbana, Illinois; Gather Uptown located near East Carolina University at 400 South Greene St. in Greenville, North Carolina; Gather Dickson located near the University of Arkansas at 333 St. Charles Ave. in Fayetteville, Arkansas; and Gather Southern located near the University of Memphis at 3655/3695 Southern Ave. in Memphis.