Bowling Green, Ky. — Pierce Education Properties (PEP) has purchased a 756-bed, off-campus student housing community near the campus of Western Kentucky University in Bowling Green called College Suites.
College Suites is a 216-unit community located just south of the campus. The garden-style brick community includes three- and four-bedroom units, each with bed-to-bath parity, full-size appliances including washers and dryers in every unit, private balconies, and resort-style pool with sundeck and hot tub. Beginning in the spring, PEP will add large, flat-screen TVs in each unit. Community amenities include 24-hour state-of-the-art fitness center, basketball and volleyball courts, stadium-seating movie theater, computer/media center, complimentary tanning beds and high-speed Internet.
KeyBank Real Estate Capital provided the debt financing for the acquisition.