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Champaign, Ill. — Triad Real Estate Partners has arranged the sale of a seven-property student housing portfolio and a 30,000-square-foot development site near the University of Illinois in Champaign.
Green Street Realty acquired the assets for an undisclosed price. The seven existing properties were predominately new construction, developed and managed by Dermel Properties. All of the communities are located within walking distance to the University of Illinois campus, and were fully leased at the time of sale. Green Street Realty plans to build a 300-bed property at the 30,000-square-foot development site. The property will include 6,000 square feet of retail space.