Lincoln, Neb. and Ames, Iowa — Tailwind Group has acquired two student housing communities in Nebraska and Iowa.
Acquisitions include South Duff Apartments, a 490-bed garden-style community located near Iowa State University in Ames; and The View, a 590-bed garden-style property serving students attending the University of Nebraska-Lincoln.
Randall Calvert of TSB Realty brokered the acquisition of both properties from RCLCO. Terms of the transactions were undisclosed.
“Both assets fit very well in our value-add portfolio,” says Brandon Smith, vice president of operations and development with Tailwind Group. “We believe that injecting our management and leasing strategies along with completing needed capital improvements over the next three to five years will lead these two properties to provide stable returns with increased valuations.”