Student Housing Daily - June 26 - Walker & Dunlop arranges sale of 205-bed community

Good morning. This is Student Housing Daily, and we are here when you run out of cowbell.

→ We are here to serve the owners, brokers, managers, and capital providers that specialize in student housing. Do us a favor, and forward this email to your favorite student housing pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

DISPOSITION: Walker & Dunlop arranges sale of 205-bed community. Walker & Dunlop has brokered the sale of Campus Edge, a 120-unit, 205-bed student housing property serving Kennesaw State University in Marietta, Georgia. In a full-circle twist, the buyer and seller—RRG Management and Campus Realty Advisors—were the same parties involved in the property’s transaction eight years ago. The deal was facilitated by Chris Epp, Craig Miller, Matthew Chase, Holden Penn, Ben Sarna, Sarah Foronda, Naomi Bludworth, Randy Herron, John Herron, Mitch Russell, and Jeff Rotter.

DEVELOPMENT: Purdue unveils 50-year master plan to transform downtown Indianapolis campus. Purdue University has approved a 50-year master plan to redevelop its 28-acre downtown Indianapolis campus into a dense, urban academic hub with 16 new buildings, 4.5 million square feet of space, and housing for over 5,300 students. The plan, designed by Ayers Saint Gross, includes high-rise academic and residential buildings while preserving 60% of the site for green and open space. The campus, situated between Indiana Avenue, Michigan Street, and Blake Street, currently houses parking garages and lots. Construction has already begun on the 15-story Academic Success Building, a $187 million mixed-use facility expected to open in May 2027. Purdue’s downtown student body is projected to grow from 2,800 in 2024 to 15,000 by 2075. David Umulis, Purdue’s senior vice provost for Indianapolis, said the university is not just building a hub, but “weaving into the fabric of the city’s innovation and industry corridors,” with links to partners like Elanco and Dallara.

DEVELOPMENT: American Campus Communities proposes 9- and 12-story student housing towers. American Campus Communities (ACC) has submitted revised plans for a pair of connected towers just north of Ohio State University, raising the proposed height of both buildings. The new plan includes:

• A 9-story tower at the Little Bar site (2195 N. High St.), up from six stories.

• A 12-story tower at the University Baptist Church site (50 W. Lane Ave.), up from eight stories.

• The two towers would be connected by an elevated walkway, and the church would relocate to the ground floor of the new building.

• Together, the project would deliver over 700 bedrooms, rented by the bedroom.

DEVELOPMENT: Landmark eyes new 157-unit student housing project near UVA. LCD Acquisitions, tied to Landmark Properties, has submitted a preliminary proposal for The Mark at Charlottesville, a 157-unit student housing development in Charlottesville, Virgnia. The project spans three parcels and would fully comply with Charlottesville’s new zoning code, which permits seven-story buildings in the Residential Mixed Use 5 district if affordable units are included. Designed by Mitchell Matthews Architects, the development aims to incorporate two historically protected 19th-century buildings.

READ: 19 student housing REIT trends.

FROM OUR PARTNERS

Rentametrix is your platform for lease tracking, rate optimization, and market data insights for student housing. Book your demo today: Rentametrix 

STUDENT HOUSING FOR SALE

Click each image for more information:

0.36 Acres | Approved For a Mid-Rise 75-Unit, 181-Bed Community | <10 Minute Walk From Campous | Shovel-Ready

3 Properties | 400 Units | 87% of Units Near Original Condition | 13% of Units Have Been Recently Renovated

517 Beds | Purpose-Built | 79% Preleased For AY ‘25-’26 | 2.5 Miles to Campus

528 Beds | 93.94% Preleased For AY ‘25-’26 | Ownership Has Invested $839,651 Over the Past Three Years | Potential to Unlock Additional $679K in Revenue

ONE MORE THING

→Try our resources for student housing pros:

Search Properties (beta) | Student Housing News | Comps (coming soon) | Professional Network (coming soon) | Advertise Listings | Share a Closing Announcement