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Newmark’s Student Housing Group Closes Sale of 4-Property Portfolio
Newmark arranged the sale of a four-property portfolio of mid-rise student housing properties totaling 1,441 beds. The newly constructed core assets are located adjacent to major universities, all with strong athletic programs. Gather Illinois serves the University of Illinois, Gather Uptown serves East Carolina University, Gather Dickson serves the University of Arkansas and Gather Southern serves the University of Memphis.
“Student housing continues to see significant movement toward scaling and portfolio opportunities given the long-term growth trends and stability of the asset class,” said Ryan Lang, head of Newmark’s student housing group. “This portfolio checks many of the boxes that major institutions are focused on right now related to Power Five status, pedestrian access to campus and stabilized occupancy.”
Lang, director Jack Brett and transaction manager Ben Harkrider, in cooperation with senior managing director Tim McKay and vice chairmen Debra Corson, Blake Pera and Dean Smith, represented seller Rael Corp.
- ◦Sale/Acquisition
