Pierce Education Properties Acquires 720-Bed Community Near Kansas University

by Katie Sloan

Lawrence, Kan. — The community is southwest of KU.

Lawrence, Kan. — Investment and management firm Pierce Education Properties (PEP) has purchased The Reserve on West 31st, a student housing community near the University of Kansas for $14 million. Debt financing of $7.3 million was provided by KeyBank. The Reserve on West 31st is a 720-bed, 192-unit community located southwest of campus. The property features three- and four-bedroom units with bed-bath parity. Units are furnished and interiors include faux hardwood floors, faux granite counter tops, and appliances including a washer and dryer. Property amenities include a resort pool with pergola and fireplace, fully equipped gym, computer lounge and study rooms, sand volleyball court, basketball court, and picnic-style areas equipped with grills.































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