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IndianaInvestment SalesNews

Redstone Acquires 528-Bed Community Near the University of Notre Dame for $43 Million

by Katie Sloan

South Bend, Ind. — An investment affiliate of Redstone Residential has acquired University Edge, a 528-bed student housing community located near the University of Notre Dame campus in South Bend, for $43 million. Kevin Larimer of Berkadia brokered the disposition of the property by Horizon Realty Advisors. Redstone Residential will oversee the management of the community, which offers a mix of one-, two-, three- and four-bedroom units. Communal amenities include a 24-hour fitness center, swimming pool, coffee bar, grilling stations, a clubhouse and study areas. The company plans to refresh the …

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DevelopmentIndianaNews

Trinitas Breaks Ground on 825-Bed Community Near Indiana University

by Katie Sloan

Bloomington, Ind. — Trinitas Ventures has broken ground on an 825-bed student housing community located near the Indiana University campus in Bloomington. The property will offer a mix of one-, two-, three- and four-bedroom units alongside communal amenities including a clubhouse, study areas, a resort-style swimming pool, an outdoor grilling area and putting green, a fitness center and a yoga studio. Trinitas also formed a partnership with Bloomington Transit for the creation of a dedicated bus line, which will be free to the community’s residents. Equity financing for the project …

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The-Avenue
IndianaInvestment SalesNews

The Avenue Trades Hands Near Indiana University-Purdue University Indianapolis

by Katie Sloan

Indianapolis — Newmark has brokered the sale of The Avenue, a 358-bed student housing property near Indiana University-Purdue University Indianapolis (IUPUI). The asset features one-, two- and four-bedroom units with a variety of floor plans. The property sits on 3.4 acres directly adjacent to the northern edge of campus. Ryan Lang, Jack Brett and Debbie Corson of Newmark represented the seller, Preiss Cos., in a partnership with Investcorp. Atlanta-based Student Quarters was the buyer. IUPUI is a core campus of Indiana University that also offers Purdue University degrees. It is …

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Griffin Hall
DevelopmentIndianaNewsOn-campus

Two New Residence Halls Totaling 1,300 Beds Open at Purdue University

by Katie Sloan

West Lafayette, Ind. — Two new residence halls have opened on the Purdue University campus in West Lafayette. Built by the university as part of a public-private partnership development with Plenary Properties Purdue, the two projects include Griffin Residence Hall North, a 570-bed community offering suite- and semi-suite-style units; and Meredith Residence Hall South, a 730-bed community offering a mix of single-, double- and triple-occupancy units with centralized bathrooms and lounges. Meredith Residence Hall South has been designated female-only and will be home to the university’s Women in Engineering, Women in …

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Irish Flats
FinanceIndianaNews

TSB Capital Arranges Refinancing of 555-Bed Student Housing Portfolio Near Notre Dame

by Katie Sloan

Notre Dame, Ind. — TSB Capital Advisors has arranged the refinancing of a two-property, 555-bed student housing portfolio serving students attending the University of Notre Dame in Indiana. Properties include Irish Flats and Overlook at Notre Dame, both of which offer fully furnished units and fitness centers. TSB Capital Advisors secured the financing — which features a 2.25 percent fixed-rate and a five-year term — through Fifth Third Bank on behalf of the borrower, Coastal Ridge Real Estate. 

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IndianaNewsOn-campus

Purdue University Announces Plans to Open Campus at Typical Capacity for Fall Semester

by Katie Sloan

West Lafayette, Ind. — Purdue University has announced plans to accept students on-campus in typical numbers for the upcoming fall semester. The university is considering new policies and practices to keep the younger student population separated from older faculty members or members of the population with underlying health conditions.  “Purdue University intends to accept students on campus in typical numbers this fall, sober about the certain problems that the COVID-19 virus represents, but determined not to surrender helplessly to those difficulties but to tackle and manage them aggressively and creatively,” …

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IndianaInvestment SalesNews

Muinzer Acquires Nine Properties, Development Site Near Purdue University

by Katie Sloan

West Lafayette, Ind. — Muinzer has acquired a nine-property portfolio and 1.55 acres of land adjacent to Purdue University in West Lafayette for an undisclosed price. The acquisition includes a series of buildings on the 500-block of Hayes Street; 503 N. Grant St.; 411 W. Stadium Ave.; and 419 W. Stadium Ave. When combined with existing Muinzer portfolio assets, the acquisition creates a 2.24-acre assemblage. “Assemblage opportunities like this are very rare,” says Marc Muinzer, founder and CEO of Muinzer. “While we have no immediate plans for redevelopment, when presented …

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IndianaInvestment SalesNews

Muinzer Acquires 1,134-Bed Community Near Purdue University for $48 Million

by Katie Sloan

West Lafayette, Ind. — Muinzer has acquired Village West Apartments, a 1,134-bed student housing community located near the Purdue University campus in West Lafayette, for $48 million. The seller in the off-market transaction was undisclosed. Village West offers two-, three- and four-bedroom, fully furnished units. Shared amenities include a club house, state-of-the-art fitness center, two basketball courts, a study center, media lounge, resort-style swimming pool, dog park, volleyball court, grilling areas and a private shuttle to campus. Scott Clifton and Stewart Hayes of JLL brokered the transaction. “Village West is exactly …

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DevelopmentIndianaNewsOn-campus

Corvias, University of Notre Dame Announce 192-Unit Residence Hall Development

by Katie Sloan

Notre Dame, Ind. — A public-private partnership between Corvias and the University of Notre Dame has announced a new, 192-unit residence hall development geared towards students who are married or have children. The $28 million community — named The Landings at Notre Dame — is set to open this fall. Housing applications are being accepted now, with married or parenting students receiving first priority housing. Graduate students will be able to apply for housing at the property after May 1. The project’s design team includes Indiana-based Spalding Design Group and …

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DevelopmentFloridaIllinoisIndianaIowaNewsOff-campusOhioPennsylvania

CA Student Living Opening Six Communities Totaling $550 Million

by Katie Sloan

Chicago — CA Student Living, the student housing investment and development arm of CA Ventures, is opening six student housing communities this fall valued in excess of $550 million. The properties — which offer more than 3,000 beds — are located in Florida, Indiana, Illinois, Iowa, Ohio and Pennsylvania. New openings include: Identity Miami, a 621-bed student housing community located three blocks from the Florida International University campus in Miami. The property offers one-, two-, three- and four-bedroom units. Shared amenities include a shuttle to campus; a 24-hour fitness and …

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