Northeastern Investment Firm Buys Two-Property Portfolio Near Indiana University

by Katie Sloan

Bloomington, Ind. — Gross scheduled rent is projected to be $761,400 next year.

Union SquareBloomington, Ind. — A Chicago-based individual has sold two Indiana University student housing properties for an undisclosed sum to a private investment firm based in the Northeast. Built in 1991, Union Square Apartments and Beech Tree Townhomes consist of 38 units and 141 beds. Prior to the 2013-2014 academic year, both properties are 100 percent preleased. The ARA Student Housing team of Meredith Wolff, Chris Epp, and Chris Bancroft represented the private, Chicago-based seller in the transaction. The sale represents Wolff’s first official transaction as the director of the student housing private client division, a newly formed role to deliver institutional quality disposition service to clients with assets with a value of $10 million or less.


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