
Portfolio Sale Near U. Illinois Urbana-Champaign Sets Records
Marcus & Millichap brokered the $150-million sale of a portfolio comprising more than 50 student housing properties totaling nearly 1,100 units near the University of Illinois Urbana-Champaign campus in Champaign, IL. The transaction, which closed in four tranches, set records in Champaign County, including the highest-ever portfolio sale price, as well as the largest number of units, bedrooms and buildings in a single portfolio sale.
A Marcus & Millichap team of senior managing director Scott Harris and senior associate Bryan Kunze represented the longtime owner, Campus Property Management, and procured the buyer, Fairlawn Capital. The properties range from single-family rentals to traditional student housing apartments.
“During our marketing process, we received substantial interest despite the pandemic and uncertainty in the marketplace, and the end result was a win-win for both buyer and seller,” said Harris. “The seller had owned many of the student housing properties for decades and was ready to divest.”
- ◦Sale/Acquisition