GMH Capital Partners and AGC Equity Partners have acquired The Dean, a 672-bed mixed-use student housing project in Champaign, Illinois, from Core Spaces. Terms of the deal were not disclosed.
The Dean is a 240,636-square-foot, off-campus student housing community consisting of 17 stories, with ground floor retail anchored by Target and Jimmy John’s. The property is situated at the intersection of South Sixth and East Green Streets in Campustown, adjacent to the University of Illinois – Urbana Champaign campus and within walking distance to the area’s many bars and restaurants, as well as event venues such as State Farm Center and Memorial Stadium.
“The Dean fits seamlessly into GMH and AGC’s portfolio of student housing properties and grows our existing presence in Campustown,” said Gary M. Holloway Jr., President of GMH Capital Partners. “The Dean provides students who are ready to transition into apartment living with the perfect home away from home complete with modern amenities and convenient access to campus and retail. As the property’s new owner and manager, we look forward to getting to know our residents and providing them with an exceptional living experience despite these unique times we’re all experiencing.”
