JV Acquires 537-Bed Student Housing Community Near Indiana University Bloomington

The Fields student housing community is located near the main campus of Indiana University Bloomington. (Photo courtesy of thefields.com) The Fields student housing community is located near the main campus of Indiana University Bloomington. (Photo courtesy of thefields.com)

Bloomington, Ind. — A joint venture between Alex Brown Realty Inc. and Asset Campus Housing has acquired The Fields, a 537-bed student housing community located near the main campus of Indiana University in Bloomington.

Community amenities at the property include a resort-style swimming pool; a lap pool; two 24-hour fitness centers; a business and media center; a 10-acre park overlooking scenic ponds; and a clubhouse.

The property is 98 percent leased for the current school year. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $11.7 million in the joint venture. The acquisition was financed with a first mortgage loan from Texas Capital Bank N.A.

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