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Greystar, Rockpoint Acquire University View
Greystar Real Estate Partners LLC teamed with Rockpoint Group to buy the 1,573-bed University View student housing complex in College Park, MD. The two-building University of Maryland property at 8204 Baltimore Ave. includes 9,218 square feet of ground-floor retail space. The property traded hands for $114.7 million, with the seller listed as University View Partners LLC.
The joint venture plans a significant upgrade to unit interiors and common areas, to compete with more recent student housing deliveries in the submarket. The improvements will focus on full interior upgrades, including new countertops, stainless steel appliances and updated furniture packages. Also in the plan is conversion of the existing pool into a resort-style amenity.
For comments, questions or concerns, please contact Amy Sorter
For comments, questions or concerns, please contact Amy Sorter
- ◦Sale/Acquisition
- ◦Sale/Acquisition
