Oxford, Miss. — Innovative had been managing this property since August 2012.
Oxford, Miss. — Innovative Student Housing and The Carlyle Group have purchased Taylor Bend, a newly constructed, luxury student housing property less than one mile from the University of Mississippi (Ole Miss) in Oxford. The seller was a local developer. Taylor Bend was their first student housing property.
Innovative took over management of the property in August 2012 and was familiar with the property and its operations prior to the acquisition. "The purchase was completely off-market and presents good upside in a premium student housing market," says Doug Sherman, Innovative's CEO.
Taylor Bend is the first investment for Innovative and Carlyle together.