Fayetteville, Ark. — Strategic Student & Senior Housing Trust Inc., a REIT focusing on student housing and seniors housing acquisitions and sponsored by SmartStop Asset Management LLC, has purchased a student housing community near the University of Arkansas for $57 million. Known as The District, the 592-bed community is located at 376 W. Watson St. in Fayetteville, roughly a half-mile from the university’s campus.
The 198-unit property includes one-, two-, three- and four-bedroom, fully furnished floor plans. Completed in 2016, the LEED Gold-certified community features a business center, study rooms, pool, spa, courtyard, fitness facility and a yoga room. Asset Campus Housing will manage the property, which was 95 percent preleased at the time of sale for the 2017-2018 academic year.