Lexington, Ky. — Campus First Student Living and CF Real Estate Services have acquired The LEX, a 649-bed student housing project located near the campus of the University of Kentucky.
The mid-rise property is walkable to campus and downtown Lexington. The property opened in 2009 with 266 units and contains 23,444 square feet of retail space.
Atlanta-based CF Real Estate Services and Campus First are planning $2.5 million in renovations for the property, and estimate the work will begin prior to the 2018-2019 academic year. The renovation will include the addition of VIP suites that will have granite countertops, stainless steel appliances, new kitchen hardware, subway-style tile backsplashes and new lighting. The clubhouse and office space will also be renovated, adding private study rooms, shared conference rooms and a new fitness studio and center.