Colliers International Student Housing Group Brokers $33.5 Million Sale in North Carolina

The Landing Apartments in Greenville sold for $33.5 million. The Landing Apartments in Greenville sold for $33.5 million.

Greenville, N.C. — The Landing Apartments is located near East Carolina University and Pitt Community College.

The Colliers International Student Housing Group has closed the sale of The Landing Apartments in Greenville for $33.5 million. According to Colliers, this sale signifies the demand for value-add student housing communities with opportunities for buyers to make improvements and renovations.

The 319,296-square-foot complex is located near East Carolina University (ECU) and Pitt Community College. With 288 units and 888 beds, The Landing is a gated community with access to the ECU bus system for transportation to campus.

An undisclosed private equity fund purchased the complex. The seller was Corridor Greenville, LLC. Managing Directors Travis Prince and Dorothy Jackman and Associate Sean Baird with the Colliers International Student Housing Group, along with Steven Peden, senior vice president with Colliers International | Raleigh-Durham represented the buyer and seller in the transaction.

“The property set the benchmark for pre-leasing this year and offered the buyer a stable and sizable entry into a new market with the opportunity to grow revenue through continued improvements,” says Prince. “Value-add transactions such as this are among the most sought-after deals in the student housing sector.”

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