Austin, Texas — Austin-based Newmark Knight Frank (NKF) has arranged the sale of seven student housing communities totaling 3,558 beds for an aggregate price of $220 million.
- The Fairway, offering 298 beds near Purdue University in West Lafayette, Indiana.
- Athens Ridge, offering 787 beds near the University of Georgia in Athens.
- Knox Ridge, offering 371 beds near the University of Tennessee in Knoxville.
- CEV Clemson and CEV Clemson West, two properties offering a combined total of 768 beds near Clemson University in South Carolina.
- Haven46, a 542-bed community located near the University of South Florida in Tampa.
- Vie at Hattiesburg, offering 792 beds near the University of Southern Mississippi in Hattiesburg.
Ryan Lang, Brandon Buell and Jack Brett of Newmark Knight Frank represented the sellers in all transactions. The NKF team represented Kairos Investment Management in the sale of The Fairway to Nelson Partners; Strategic Development Company Inc. in the sale of Athens Ridge and Knox Ridge to University Partners; Reichmann International and Timberline Real Estate Ventures in the sale of both CEV Clemson and CEV Clemson West to Chicago-based Blue Vista Capital; Haven Campus Communities in the sale of Haven46 to a joint venture between Timberline Real Estate Partners and Heitman; and Argo Partners in the sale of Vie at Hattiesburg to Vesper Holdings.
“With more than $1 billion in student transactions sold this year, there is sustained demand for student product from an unprecedented amount of equity sources across the capital spectrum,” says Lang, executive managing director and head of Newmark Knight Frank’s student housing team.