Bloomington, Ind. — FM Capital has acquired a five-property student housing portfolio totaling 408 beds near Indiana University in Bloomington.
Acquisitions include Northern Manors, offering 42 beds; Willis Drive Manors, offering 24 beds; Manors at 10 North, offering 73 beds; The Crest, offering 37 beds; and Brownstone Terrace, offering 232 beds. FM Capital plans to combine the portfolio into a fully-integrated community through rebranding, and the implementation of a multi-tiered social program.
Planned updates to the properties include the addition of enhanced amenities, lounge spaces and study areas; advanced roommate matching services; high-speed internet; business-class printing services; concierge through a mobile application; and hosted social events and job fairs.