Monday, February 11, 2013

Michigan State Student Housing Portfolio Sells for $101.7M




National Commercial Real Estate News From CoStar Group





Michigan State Student Housing Portfolio Sells for $101.7M



A joint venture led by Woodlark Cos. and Westpac Campus Communities purchased the Chandler's Crossing student housing portfolio in East Lansing, MI, from the Pierce Co. for $101.7 million. The buyers secured an $85 million long-term, fixed-rate loan through a national CMBS lender.

The three-community, 1.43 million-square-foot, 2,772-bed portfolio serves Michigan State University. The assets consist of 336 units/1,068 beds at The Village, 210 units...






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