Student Housing Daily - September 30 - Walker & Dunlop brokers sale of Auburn community

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NEWS ROUNDUP

DISPOSITION: Walker & Dunlop brokers sale of Auburn community. Walker & Dunlop has arranged the sale of The French Quarter, a 452-bed student housing property near Auburn University. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the sellers, while Will Baker, William Shell and Mike Shropshire arranged acquisition financing for the buyers.

DISPOSITION: Marcus & Millichap arranges sale of Wisconsin asset. Marcus & Millichap has arranged the sale of The Element, an 87-bed student housing community near the University of Wisconsin-Whitewater. Matthew Whiteside of Marcus & Millichap represented the seller, CatCon Whitewater. The buyer and financial terms were not disclosed.

DEVELOPMENT: Core Spaces, Harrison Street to develop 1,195-bed project. A JV between Core Spaces and Harrison Street will develop Hub Tampa Fowler, a 1,195-bed student housing community near the University of South Florida in Tampa. The project, financed by QuadReal Property Group with TSB Capital Advisors as consultant, is slated for completion in 2027. Joe Gatto of Core Spaces noted that overcoming easement issues, tenant relocations and roadway moves was critical to advancing the project.

DEVELOPMENT: Liberty Mutual, Landmark partner on 1,225-bed student housing projects. Liberty Mutual Investments (LMI) and Landmark Properties have formed JVs to develop two new student housing communities: The Mark State College at Penn State and The Mark Mansfield at UConn, delivering a combined 1,255 off-campus beds. TSB Capital Advisors arranged financing for both projects. Christopher Finn of LMI said the developments strengthen its 17,000-bed student housing portfolio, while Walt Templin of Landmark emphasized the partnership’s role in easing housing pressure near major universities.

READ: Trends reshaping off-campus student living.

STUDENT HOUSING FOR SALE

Click each image for more information:

Four Properties Across the Sunbelt | 2,114 Beds | Avg. Occupancy of 98% | Avg. Market Rent Per Bed: $678

930 Beds | 97.2% Occupancy | 96.41% Avg. Occupancy Since AY ‘19-’20 | Avg. Market Rent Per Bed: $1,041

Four Properties | 119 Units | 100% Occupancy | Graduate Student Demand

208 Beds | 100% Occupied | Offering Price: $30,500,000 | Price/Bed: $146,635

ONE MORE THING

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