Triad Arranges Sale of 639-Bed Student Housing Portfolio Near Western Illinois University for $22.9 Million

by Scott Reid

Macomb, Ill. — Triad Real Estate Partners has arranged the sale of Campus Pointe and Campus Manor, located near Western Illinois University in Macomb, for $22.9 million.

Corridor Ventures sold the assets to a private placement equity sponsor based in South Carolina.

The two-property portfolio consists of 356 units and 639 beds. The properties are located adjacent to the main campus of Western Illinois University.

The portfolio sold with an approximate capitalization rate of 7.65 percent.

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