Charlottesville, Va. — University Partners has acquired The Pavilion at North Grounds, a 528-bed student housing property located near the University of Virginia in Charlottesville.
The community was developed in 2013 and offers a mix of one-, two- and three-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, courtyard with fire pit, game room, pet park, business center and study lounge.
Tim Bradley of TSB Capital Advisors arranged the transaction and CBRE Capital Markets originated supplemental financing on behalf of University Partners.
“We have targeted the Charlottesville market for some time and are thrilled to acquire this well-positioned asset,” says Troy Manson, principal of University Partners. “This acquisition closes out our most active calendar year to date and we look forward to carrying this momentum into the new year.”