Property Listings

The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Southeast Multifamily Advisory Group, is excited to present the exclusive listing of the Arcadia on the River student apartment community in Milledgeville, Georgia. Completed and opened in August 2017, the 123-unit, 510-bed, modern cottage community is located adjacent to the Oconee River and Greenway, minutes from Milledgeville’s three highly-ranked colleges and universities and thriving downtown commercial district. Given its premier location, top-of-market amenities, and upscale cottage-style residences, this high-demand asset offers an outstanding opportunity to supplement or initiate a student housing investment strategy within one of Georgia’s most rapidly-expanding student-oriented markets.

The Cushman & Wakefield Student Housing Team, in conjunction with the Cushman & Wakefield Multifamily Advisory Group, is pleased to present the exclusive listing of The Edge at Donaghey, a 120-unit, 432-bed apartment community located adjacent to the University of Central Arkansas (UCA). Built in 2013, The Edge is the only purpose-built student asset in the market catering to UCA. This opportunity allows investors to acquire the only true Class A student community significantly below replacement costs with the ability to achieve immediate returns.

The Cushman & Wakefield Student Housing Team, in conjunction with the Cushman & Wakefield Texas Multifamily Advisory Group, is pleased to present the exclusive listing of Midtown Sam Houston (Midtown), a 120-unit, 384-bed apartment community located near Sam Houston State University. Built in 2017, Midtown has been a top performer in the market, averaging occupancies in the high 90% range since opening. This opportunity allows investors to acquire a quality asset with favorable assumable in-place debt. The amortizing FannieMae debt matures on February 1, 2028 and has a fixed interest rate of 4.59%.

The Cushman & Wakefield Student Housing Team, in conjunction with the Cushman & Wakefield Georgia Multifamily Advisory Group, is pleased to present the exclusive listing of The Haven at Kennesaw, a 32-unit, 148-bed cottage apartment community located near Kennesaw State University (KSU). Built in 2017, The Haven has been a top performer in the market, consistently leasing to 100% by June 1st every year since its delivery. This opportunity allows investors to acquire the only true Class A cottage-style community near KSU with significant support for immediate rental growth.

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.

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 312-unit student housing conversion opportunity located in Gainesville, Florida.

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.