State College, Pa. — University Partners has acquired HERE, a 755-bed student housing community located near the Pennsylvania State University campus in State College. The property was built in 2020 and offers one-, two- , three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities include 30,000 square feet of retail space; private study rooms; a penthouse sky lounge with a kitchen and deck; and a spa with a hot tub and sauna. “Our market-first, data-driven approach to investing led us to target the Penn State market for several years and we are pleased to acquire this high quality, well located asset,” says Troy Manson, principal of University Partners. “HERE is the third acquisition we’ve closed in recent months and we look forward to continuing to expand our portfolio further this year.” The seller and terms of the transaction were undisclosed.
University Partners Acquires 755-Bed Community Near Pennsylvania State University