Cincinnati — NB Private Capital, a successor to Nelson Brothers Professional Real Estate, has acquired CP Cincy, a 440-bed student housing community located near the University of Cincinnati in Ohio.
The property was fully occupied at the time of sale, and offers two-, three- and four-bedroom units. Shared amenities include a swimming pool, full recording studio, Pilates room, fitness center, stand-up tanning beds and a gated parking garage. The property was offered in a Delaware Statutory Trust structure and eligible for 1031 investors. The initial total offering price to investors for the property was $30.7 million, of which approximately $13.2 million came from investor equity.