Student Housing Team

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, 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 Fairway, a 167-unit, 298-bed student-centric housing community, enjoys a strategic position near Purdue University’s bustling campus. With over 52,000 students within walking distance, The Fairway is poised to capture demand from an expanding student base seeking an attainable rental price point compared to new-construction properties.

The Fairway was originally constructed in the 1960s and had a third phase delivered in 2007. In 2018, all 12 buildings received extensive renovations, including brand-new appliances, in unit washer/dryer, upgraded flooring, stylish countertops, and modern cabinets. The property boasts ample amenities, including a pool, hot tub, fitness center, community room, and fenced dog park.

THE PROPERTY

a. Recently renovated units featuring in unit washer/dry, stainless-steel appliances, vinyl plank flooring, quartz countertops and modern cabinets

b. Full amenity package featuring a pool, hot tub, fitness center, community room, and fenced dog park

c. Well positioned just one mile from Top 10 Nationally Ranked Purdue University - over 52,000 students and 18,000+ employees

d. Immediate access to top retailers including grocers Walmart, Fresh Thyme, and Aldi, along with major convenience stores Walgreens and CVS

THE MARKET

a. Caters to growing student base – Purdue University saw 7% YOY growth in applications in 2023, and 82% growth since 2013

b. 9.6% rent growth in 2023 at Purdue with 97% occupancy, averaging 5.8% rent growth over the last five years

THE UPSIDE

a. 100% leased for 2024/2025 school year - demonstrates demand for lower-cost student housing with a captive tenant base

b. Ability to significantly increase rents via value-add program by improving property condition, rejuvenating amenities, and furnishing the units

The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with Cushman & Wakefield Pyramid Brokerage Company, is pleased to present the exclusive listing of the 176-unit, 592-bed Monarch 716 apartment community located in Buffalo, New York. Built in 2017, the property is highly amenitized and in excellent condition situated adjacent to SUNY Buffalo State University and the Scajaquada Expressway. Monarch 716 is perfectly positioned for a conversion to conventional multifamily housing, offering investors and developers a prime opportunity to capitalize on Buffalo’s multifamily market renaissance.

The sale of The Cottages on Campus will take place through a secure online open bid web portal on the Ten-X.com web platform. Please click the "Links" tab below to navigate to the Ten-X website for more details and all data room materials. The Auction is scheduled to begin on December 2nd, 2024, and conclude on December 4th, 2024.

The Cushman & Wakefield Student Housing Capital Markets Group, in conjunction with the Alabama Multifamily Advisory Group, is pleased to present the exclusive listing of The Hub at Auburn, located in Auburn, AL. This 96-unit and 368-bed student housing asset offers excellent location and visibility off Shug Jordan Parkway, providing residents direct access to Auburn University, a Power Four, Tier One, and state-ranked school system. Built in 1989 and renovated in 2020 and 2024, The Hub at Auburn is an exceptional opportunity to invest in a growing university market with a strong physical plant at a below replacement cost basis.

The Cushman & Wakefield Student Housing Capital Markets Team, in partnership with the Cushman & Wakefield Pyramid Brokerage Company Team, is pleased to present the exclusive listing of The Meadows of Geneseo, a long-standing staple of SUNY Geneseo’s off-campus student housing community. Constructed in 1989 and renovated in 2022-23, The Meadows offers 90 spacious townhouse and ranch-style units, totaling 260 bedrooms. Conveniently located just across from the SUNY Geneseo campus, it provides students with a short walk to campus while offering the privacy and independence of off-campus living.

The Cushman & Wakefield Student Housing Capital Markets Team is pleased to present the exclusive listing of 11486 Corporate Boulevard, a 6.37-acre property in close proximity to the University of Central Florida. Ideally located for student housing catering to UCF’s nearly 70,000 students, the property can be redeveloped to accommodate 640 new beds per the existing office-to-residential land use conversion ratio, or up to 1,270 beds with the purchase of additional development rights. Current ownership has commenced the entitlement process, allowing a developer to step into a process already in motion, and under today’s planning and zoning regulations.

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.