Stillwater, Okla. — XFD Real Estate Partners has acquired Stillwater Student Living, a 792-bed student housing community located near Oklahoma State University in Stillwater. The property offers cottage-style units and shared amenities including a resort-style swimming pool, 24-hour fitness center, volleyball and basketball courts, group study rooms, a computer lab and dog parks.
The new ownership plans to begin renovations at the property, which will include a complete remodel of the community’s clubhouse; the addition of a new fitness facility, study lounges, conference rooms, outdoor fitness courses, a frisbee golf course and leash-free dog runs; and unit interior upgrades. The community will be managed in-house by XFD’s property management platform.
“This is the second cottage-style property we have acquired and we plan to expand our cottage brand by renaming this asset to Cottage Row Stillwater,” says Samuel Mtunga, the firm’s co-founder and COO. “We have $3.5 million of improvements planned for the property, which we believe will enhance our value proposition significantly and further differentiate our offering in this market.”