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Champion Real Estate Enters Michigan State U. Market
JLL Capital Markets closed the $42.26-million sale of the Michigan State Portfolio, a 292-unit, 524-bed portfolio of student housing communities located just a few blocks from the campus of Michigan State University in East Lansing, MI.
Senior directors Stewart Hayes and Scott Clifton, along with managing director Dave MacDonald, represented the seller, DTN Management Company. Champion Real Estate Company acquired the asset, its first in this market.
The properties within the portfolio are located just north of MSU’s campus at 635 Abbot Rd., 129 Burcham Dr. and 731-787 Burcham Dr. Residents of the properties are proximate to the campus population of approximately 50,000 students, over 200 academic programs and the vibrant nightlife along East Grand River Rd.
“In the past 12 months, we have seen a tremendous amount of interest in student-housing opportunities proximate to Tier I universities as the asset class continues to be extremely resilient,” said Hayes.
- ◦Sale/Acquisition
