Fayetteville, Ark. and Baton Rouge, La. — Tailwind Group has acquired two student housing communities in Arkansas and Louisiana. Acquisitions include Spectrum Apartments, a 504-bed, garden-style community located near the University of Arkansas in Fayetteville; and The Sterling, a 340-bed community serving students attending Louisiana State University in Baton Rouge.
William Vonderfecht of CBRE brokered the acquisition of Spectrum Apartments from Bridge Partners for an undisclosed price. Mike McGaughy and Jon Kleinberg of Transwestern arranged the acquisition of The Sterling from an undisclosed seller. Both properties will be rebranded and have major capital improvements planned.
“We have furthered our expansion into SEC markets with these two acquisitions,” says Nick Sheak, director of investments with Tailwind. “We believe in the long-term strength and upside of both Arkansas and LSU. We’re excited to implement our management strategy and capital improvements to enhance the resident experience and in turn provide our investment partners with strong returns.”