Preferred Apartment Communities Selects CBRE to Market 6,095-Bed Student Housing Portfolio Valued at $480 Million

Atlanta — Preferred Apartment Communities has selected CBRE to market its 6,095-bed student housing portfolio, valued at $480 million. Properties for sale include:

• Knightshade (also known as The Retreat at Orlando), an 894-bed community serving the University of Central Florida;
• Rush Student Living (also known as Haven 49), an 887-bed community located near the University of North Carolina, Charlotte;
• URSA, an 840-bed community serving students attending Baylor University in Waco, Texas;
• Tradition, an 808-bed community located near Texas A&M University;
• Stadium Village, a 792-bed community located near Kennesaw State University in Georgia;
• North by Northwest, a 679-bed community serving students attending Florida State University;
• SoL, a 639-bed community located near Arizona State University; and
• BLOC, a 556-bed community located near Texas Tech University.

Preferred Apartment Communities struck a deal to sell its student housing holdings to GMH Capital for $475.4 million in an off-market transaction last year, which later fell through.