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Student Housing Daily - February 18, 2026 - Marcus & Millichap brokers $13.3M sale

Student Housing Daily - February 18, 2026 - Marcus & Millichap brokers $13.3M sale

Dinerstein acquires site for 393-bed development. ACC and Northeastern break ground on 1,200-bed tower. MTSU and The Annex Group plans $56.5M replacement. US campuses spend $79B per year on unused and underutilized space. Four new student housing deals.

Aid Sopjani & Matt H
February 18, 2026

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NEWS ROUNDUP

DISPOSITION: Marcus & Millichap brokers $13.3 million sale of Champaign asset. Marcus & Millichap brokered the $13.3 million sale of University Commons, a 100-unit student housing and retail property in Champaign, Illinois. Sam McCarthy and Scott Harris of Marcus & Millichap’s Chicago Oak Brook office represented the seller and procured the buyer, Illini Rental Properties.

ACQUISITION: Dinerstein acquires site for 393-bed development. The Dinerstein Cos. has acquired a development site for a 393-bed student housing project planned near Auburn University in Alabama. Groundbreaking is scheduled for this summer, with delivery targeted for fall 2028. McNair Collegiate Partners provided consulting services to Dinerstein on the land acquisition. The seller and additional deal terms were not disclosed.

DEVELOPMENT: ACC and Northeastern break ground on 1,200-bed tower. American Campus Communities and Northeastern University have broken ground on a 1,200-bed residence hall at 840 Columbus Ave. in Boston through a public-private partnership. The 23-story project will include 11,000 square feet of publicly accessible community space—highlighted by a large second-level outdoor deck—and 4,000 square feet of ground-level retail, with completion targeted for fall 2028 and LEED Gold certification.

DEVELOPMENT: MTSU and The Annex Group plan $56.5 million, 554-bed student housing replacement. Middle Tennessee State University has announced plans for a $56.5 million student housing development in partnership with The Annex Group, with construction expected to begin by the end of February and completion targeted for summer 2027. Financing was completed through the sale of $56,535,000 in tax-exempt and taxable bonds issued by the Health and Educational Facilities Board of Rutherford County. MTSU said The Annex Group will also serve as general contractor, facility manager, and asset manager.

READ: US campuses spend $79 billion per year on unused and underutilized space.