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CushWake Arranges Sale of Coastal Carolina Univ Student Housing Community
Cushman & Wakefield has arranged the sale of The Current at Coastal, an off-campus student housing community situated directly adjacent to Coastal Carolina University in Conway, SC
Travis Prince, Shawn Lubic, Victoria Marks and Tai Cohen of Cushman & Wakefield arranged the sale on behalf of special servicer LNR Partners. The property was acquired by Walk2Campus Properties.
“The Current is a prime acquisition target for student housing buyers,” said Prince. “The property has been well maintained and is an outstanding opportunity to acquire a quality asset at an extremely attractive basis below replacement costs in a market with no forward development pipeline.”
The Current at Coastal was 83% leased at sale. It features 128 units and was recently renovated to include new unit furniture, repainted units, upgraded appliances and HVAC units and refreshed clubhouse. Amenities include a 24-hour fitness center, study lounge, resident events, and access to CCU’s northwest campus.
- ◦Sale/Acquisition
