Morgantown, W.V. — The property opened in the fall in a live-work WVU submarket.
Morgantown, W.V. — Apartment Realty Advisors National Student Housing Group (ARA Student Housing) has brokered the sale of The Domain at Town Centre, a 912-bed community that opened in the fall near West Virginia University.
ARA National Student Housing’s Chris Epp, Chris Bancroft, Pat Jones and Meredith Wolff represented the seller, an affiliate of Asset Campus Housing. ARA did not release the identity of the seller, but the property was developed in a joint venture between Asset Plus Companies and Diamond Realty Investments, Inc., a subsidiary of Mitsubishi International Corporation. The Domain at Town Centre was sold to a private sponsor-backed by an ultra-high net worth investor.
The property is positioned within a planned regional development known as University Town Centre, which consists of more than 1 million square feet of national retail tenants and a variety of restaurants for a live-work-play environment in the WVU submarket.
The new construction features a resort-style pool, fitness center, tanning facilities, game room, and study lounge. The community was 100 percent occupied when it was acquired on Nov. 16.