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The Crest at Elon contains 288 beds and is situated adjacent to the university.
Elon, N.C. — The Preiss Company has acquired a student housing community located adjacent to Elon University for $2.6 million. Situated at 756 E. Haggard Ave., The Crest at Elon contains 288 beds in all four-bedroom/four-bathroom units. Amenities include a clubhouse with a fitness center, a computer lab and a game room.
Preiss will be managing the community in-house. It will also be investing in a capital improvements program that will include the installation of new TVs in the clubhouse, upgrades to the computer lab, new fitness equipment and new flooring.
The seller was JER. Acquisition financing was provided by RBC Bank.
— Coleman Wood