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Student Housing Daily - April 8 - CushWake sells 62-bed property

Student Housing Daily - April 8 - CushWake sells 62-bed property

Seven Hills provides $18.5 million. Core Spaces & Uptown Rental unveil new project. $45 million complex near completion. LV Collective brings in new Executive VP. Student residences desired by investors. Four new student housing deals.

Aid Sopjani & Matt H
April 08, 2025

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NEWS ROUNDUP

DISPOSITION: Cushman & Wakefield sells 62-bed development in Pennsylvania. Cushman & Wakefield’s student housing team, led by Travis Prince, has sold The Cottages on Campus, a 62-bed complex in Indiana. The property was sold through an auction held on Ten-X.

FINANCING: Seven Hills Realty provides $18.5 million. Seven Hills Realty Trust has provided an $18.5 million bridge loan to refinance LL Sams, a 271-bed student housing community serving Baylor University students in Waco, Texas. The financing arrangement, structured as a three-year loan, was secured by JLL on behalf of the borrower, California-based Shore to Shore Properties.

DEVELOPMENT: Core Spaces and Uptown Rental Properties unveil new project. Core Spaces and Uptown Rental Properties have unveiled plans for a new apartment development near the University of Cincinnati. The project will feature 551 units, totaling 1,996 beds. Located at the southeast corner of Vine and East McMillan streets, the development will consist of two buildings atop a shared multi-level, 700-space parking garage. Pending formal zoning approvals and development agreements with the city, construction is anticipated to commence in the fourth quarter of 2025, with completion targeted for fall 2028.

DEVELOPMENT: $45 million complex in Myrtle Beach almost complete. A $45 million international student housing complex in Myrtle Beach is nearing completion. Approved less than a year ago by the Myrtle Beach City Council, the project has progressed rapidly. Assistant City Manager Brian Tucker noted that contractors are finalizing site work, including exterior pavements and interior furnishing, starting from the third floor downward. The first of four buildings, offering 300 of the planned 3,000 beds, is expected to be ready for the upcoming season. This facility aims to provide modern accommodations for J-1 visa students, featuring kitchens, laundry facilities, recreational areas, and high-speed internet.

PEOPLE MOVES: LV Collective brings in new Executive VP. LV Collective has appointed Christopher Kott as their new Executive Vice President of Acquisitions. Kott brings extensive experience in both student and multifamily investment strategies and acquisitions. The company anticipates that his expertise will significantly contribute to the expansion of their portfolio.

READ: Student residences, the object of desire for real estate investors.

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