JLL has arranged the sale of Naismith Hall, a student housing dorm-style community totaling 504 beds, located on campus at the University of Kansas in Lawrence, KS. The sales price was not disclosed.
The property, which was built in 1965, sits on nearly three acres and totals 120,000 square feet. The property was renovated in 2013. Community amenities include a 24-hour fitness center, swimming pool with sun deck, renovated lounge with games, 24-hour computer lab, community kitchen, on-site laundry, on-site parking and food service at Naismith Hall Café. New ownership also plans to execute a significant renovation program and modernize the student housing asset to premium standards. The community is located at 1800 Naismith Dr.
Scott Clifton, Stewart Hayes, Teddy Leatherman and Jim Gates of JLL represented the seller, Bromley Cos. LLC, in the transaction. The buyer was not disclosed.
“Naismith Hall provides great investment opportunity for the buyer, being prominently positioned within steps from the renowned University of Kansas,” said Clifton. “Additionally, the property has various paths to outsized returns for new ownership, given the promising increased demand for on-campus student housing in the near future.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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