Berkadia announced the recent sale of Clover Ridge and Clover Village, two student housing communities in South Bend, Indiana.
Prime Property Investors, Ltd. of Northbrook, Illinois, sold the properties to the buyer, Glenmont Capital Management, a New York-based real estate private equity fund manager.
Clover Village, a 328-bed property sitting on 11 acres and located one block from campus, is comprised of studio, one-, and two-bedroom apartments with amenities including a clubhouse, fitness center, swimming pool, and business center.
Clover Ridge, a 221-bed property sprawling across eight acres and located three blocks from campus, is comprised of one-, two-, and three-bedroom apartments with amenities including a clubhouse, fitness center, and swimming pool.
The sales were completed by Managing Director of Student Housing, Kevin Larimer; Managing Director, Rick Vidrio; Senior Director, Jason Krug; Associate Director of Student Housing, Greg Gonzalez; and Senior Director, David Gaines.