Triad Real Estate Partners closed the sale of a two-property, 176-unit portfolio of student housing at Purdue University if West Lafayette, Indiana. The sale included 364 beds.
The two class-A proejcts — Grant Street Station and South Street Station — are within two blocks of campus adn 100 -ercent occupied. The purchase price was not disclosed, but the CAP rate was about 5.5 percent.
Nelson Brothers Professional Real Estate, a privately held student-housing company based in Orange County, California, purchased the portfolio.
