A joint venture between GMH Capital Partners LP and AGC Equity Partners acquired the 632-bed Aspen Lincoln, an off-campus student housing property serving the University of Nebraska-Lincoln. Aspen Heights Partners and Virtus Real Estate Capital sold the property at 1850 P. St. in Lincoln.
The acquisition is the fourth between GMH and AGC; and the partners have already renamed the property Academy Lincoln. On-site amenities include a 24-hour fitness center, California-style pool and hot tub, tanning areas, study lounges and computer labs, courtyards with grilling and fire pits, and a utility allowance.
Gary M. Holloway Jr. with GMH Capital Partners indicated that the buy represents his company’s re-entrance into the Nebraska market, where it once had a large student housing presence. The partnership between GMH and AGC is focused on acquiring and developing core and value-add student housing properties.
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