Triad Real Estate Partners has been retained to sell two Class A student housing properties within walking distance to campus at Purdue University in West Lafayette, Indiana.
Grant Street and South Street Station were both purpose-built for students between 2013 and 2015, and total 364 beds. They are trophy assets that boast best in market locations within two blocks of the main campus at Purdue. The properties are 100% pre-leased for the 2016-17 school year.
The properties were developed by a family investment group in Indianapolis and managed locally by Granite Student Living. There is a large street level vacant space where the new owner could add value by leasing the space or more likely converting to additional apartment units.
The two assets are priced Subject To Market and Triad anticipates strong demand for these assets given the overall quality of their location and construction.