CBRE Arranges Sale of 816-Bed Community Near James Madison University

North 38 is located near James Madison University in Harrisonburg, Virginia. North 38 is located near James Madison University in Harrisonburg, Virginia.

Harrisonburg, Va. — CBRE National Student Housing has arranged the sale of North 38, an 816-bed student housing community located near James Madison University in Harrisonburg.

The garden-style community consists of 19, three-story residential buildings and a leasing office and clubhouse. Shared amenities include a resort-style pool with a fountain and sundeck, a gazebo with an outdoor fire pit, a state-of-the-art fitness center and a private shuttle service to the university. Carl Olzawski and Richard Hart of Chain Bridge Capital purchased the asset from JMG Realty for an undisclosed price. CBRE’s Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Robert Dean III arranged the transaction on behalf of JMG Realty.

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