Clemson, S.C. — Colliers International has arranged the sale of two student housing communities located near the Clemson University campus in South Carolina.
Acquisitions include Summit at Cross Creek, a 300-bed community; and Cross Creek, a 314-bed community. The buyer, Redwood Capital Group, will be converting the two properties from student housing into multifamily housing. Sean Baird, Will Mathews, Ryan Griffith, and Max Kemether of Colliers International worked to facilitate the transaction. The seller was undisclosed.
“The Clemson market is very strong from both a multifamily and student housing perspective,” says Baird of Colliers International. “As student housing has evolved, these communities became a better fit for multifamily and were in need of capital to convert and stabilize them.”