Property Listings

The Cushman & Wakefield Student Housing Capital Markets Team is seeking an LP equity partner for an upcoming development in close proximity to the University of Illinois at Urbana-Champaign. Located at 505 S. 5th Street in Champaign, IL, the property is adjacent to campus and in the heart of Campustown, which features many restaurant options, shopping, bars, and coffee shops. The site is fully entitled and ready for construction and situated within an opportunity zone. The developer brings with them a well-established and successful track record in the market.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 84-unit, 336-bed Huntsville Place student housing apartment community located in Huntsville, AL. This asset is situated less than one-mile northwest of the University of Alabama in Huntsville (8.7K+ students), 1.1 miles directly south of Oakwood University (1,450 students) and roughly 10 minutes away from downtown Huntsville, AL. UAH is consistently ranked as one of the best colleges in salary potential for recent graduates. The purpose-built student housing asset was completed in 2008 and is the only standalone asset of its kind that also offers large 4BD/4BA floorplans. The asset is in a market with 13% rent growth since the first quarter of 2022. Boasting exceptional performance in a top investment market, Huntsville Place represents an outstanding opportunity to invest in a high-performing student asset in one of the top multifamily markets in the U.S.

The Cushman & Wakefield Student Housing Team, in conjunction with the Pyramid Brokerage Company (a member of the Cushman & Wakefield Alliance), is pleased to present the exclusive listing of the 161-unit, 506-bed Riverview Collegiate Housing apartment community located in Rochester, NY. The property has been master-leased by the University of Rochester since its construction in 2008. The university has recently exercised its third 5-year option, which commences on 9/1/24. There is one remaining 5-year option available, commencing on 9/1/29 and terminating on 8/31/34.

The Cushman & Wakefield Student Housing Capital Markets Team is pleased to present the exclusive listing of The Nest, a 270-unit, 784-bed student housing apartment community, located in Lawrence, Kansas. Built in 2019, The Nest is situated in a highly amenitized location with property shuttle service to the University of Kansas. The Nest presents an exceptional investment opportunity being a true standout, with significant appeal due to its exclusive status as the sole cottage-style product in the market, with leasing that outperforms its competition.

Cushman & Wakefield is pleased to offer the opportunity to acquire University Station, a Class A, five-building mixeduse development in Cincinnati. Located adjacent to Xavier University, a prominent private university with a total enrollment of 6,000+ undergraduate and graduate students, the development consists of:

• 226 Class A student housing apartment units (608 beds) in three of the five buildings
• 42,225 of Class A medical/clinical office space in one, 2-story office building
• 34,916 SF of retail space: 4,500 SF in a free-standing building and 30,416 on the first floor of one of the three student apartment buildings
• 13.86 total acres and 906 total parking spaces

In addition to the five buildings, the opportunity includes development rights for approximately 3.7 acres that adjoin University Station. Details included in the ground lease summary located in the appendix.

1. COMPETITIVE ADVANTAGE
University Station is the only fully amenitized, purpose-built student housing community serving Xavier students. With high-end finishes, including granite counter tops and stainless-steel appliances, in-unit laundry and separate bedrooms and bathrooms, University Station is also the only Class A student housing complex serving the student population. The asset is newly constructed with Phase I developed in 2014 and Phase II constructed in 2020. Current amenities include swimming pool, study areas, workout facility, game room and theatre room.

2 .PRE-LEASING
Student Housing is pre-leased at 70% as of January 2023 for the 2023/24 school year which is significantly above the preceding school year (54%).

3 HIGH QUALITY OFFICE TENANCY
With TriHealth, an A+ rated health system, and CTI Clinical Trial and Consulting Services, a globally recognized Contract Research Organization, the office tenancy provides secure and stable cash flow.

4. VALUE CREATION
New ownership will be able to significantly upgrade the ‘curb appeal’ of the student housing apartments by upgrading the existing facilities and adding additional amenities. There is also the opportunity to add value through the lease up of vacancy within the retail component of the asset, which is anchored by the Xavier University Bookstore and Starbucks.

5. EXCELLENT LOCATION
University Station is seamlessly integrated with Xavier University’s campus, providing students with immediate access to all the University’s educational facilities. Xavier currently has its "All for One Shop" Bookstore in one of University Station’s retail suites and Xavier recently opened its Health United Building, an on-campus health and wellness facility located across the street from University Station.

Cushman & Wakefield is pleased to present the exclusive listing of The Worcester Portfolio located in the coveted Elm Park neighborhood of Worcester, MA. The portfolio, an irreplaceable collection of nine (9) former mansions, is configured for short-term rental and dormitory use. The buildings are 100% leased to a local university through July 2029.

The portfolio consists of 262 beds across 122 bedrooms in the 9 buildings, with a mixture of shared and private bathrooms and common facilities. Substantially renovated in 2021/2022, and exceptionally located in the heart of Worcester, the Worcester Portfolio is a rare investment opportunity that offers attractive and secure cash flow and significant long-term upside. The portfolio is offered for sale with an asking price of $19,700,000, equating to 7.0% cap rate on the in-place income.