Hendricks & Partners recently closed the sale of Grindstone Canyon, a 200-unit, 384-bed student-housing community located in Columbia, Mo.
Built in 2002, Grindstone Canyon is one of eight core student-housing communities serving the University of Missouri-Columbia. The university has seen record enrollment levels for each of the last 10 years, driving demand for new student-housing in the area.
Grindstone Canyon features a fitness center, tri-level movie theater, resort-style pool, heated spa, on-site concierge gift shop, free continental breakfast and a business center with Internet access.
Grindstone Canyon Apartments LLC was the seller in this transaction. KAREP REIT, II, Inc., was the buyer.
Ken Aston and Andrea Kendrick of Hendricks & Partners’ St. Louis office, and Kevin Larimer, national director of student housing for Hendricks & Partners, negotiated the transaction for the seller.
