Normal, Ill. — Triad Real Estate Partners has arranged the sale of an eight-property student housing portfolio totaling 391 beds near Illinois State University in Normal.
The eight properties are located at 705 South Franklin Ave., 801 South University St., 905 South University St., 908 South University St., 202 West Locust St., 208 West Locust St., 406 South Broadway St. and 407 West Willow St. Green Street Realty acquired the portfolio from an investment group based in Evanston, Illinois. The company plans to implement minor renovations in the short term with a long-term capital plan to modernize the units and add additional bathrooms. Young America Realty manages the properties, which are 99 percent leased for the current school year. The purchase price was undisclosed.