Columbia, Mo. —Grindstone Canyon is one of eight core student housing properties serving the university.
There’s a new owner of Grindstone Canyon Apartments in Columbia. The property features a tri-level movie theater.Columbia, Mo. — Hendricks & Partners’ National Student Housing Advisory Group has announced that Grindstone Canyon, a 384-bed apartment serving the University of Missouri, has been sold. The seller was Grindstone Canyon Apartments, a limited liability company based in St. Louis, Mo., and the buyer was KAREP REIT II Inc, a Delaware Corporation of Armonk, N.Y.
The transaction was negotiated by Ken Aston and Andrea Kendrick of Hendricks & Partners’ St. Louis office and Kevin Larimer, national director of student housing for Hendricks & Partners on behalf of the seller. The sales price was not released, but according to a release from NAI DESCO, the property sold for more than $15 million in 2011.