Provo, Utah — Seattle-based Horizon Realty Advisors has acquired a 644-bed student housing community located near the campus of Brigham Young University in Provo. The Riviera is located at 1505 N. Canyon Road, within walking distance of the school. It contains a mix of two- and three-bedroom residences, and monthly rents range from $260 to $279 per bed. Community amenities include a swimming pool, a sand volleyball court, and a lounge area with a pool table, ping pong tables and foosball. Occupancy was 99 percent at the time of closing. The Riviera is the second community Horizon owns in the market; it purchased the 1,094-bed The Branbury in 2005.
— Coleman Wood