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Student Housing Demand Surges, Especially in Seattle
Husky Housing, a three-building 96-bed student housing complex located at 4215, 4217 and 4221 9th Ave. Northeast, recently closed for $17.25 million, according to Colliers. This sale underscores the rapid growth of the student housing sector, both in Seattle and across the nation. Sales of existing student housing have skyrocketed in 2021.
Colliers multifamily experts Tim McKay, Dan Chhan, Sam Wayne and Matt Kemper represented both parties for the transaction in Seattle’s University District. The M, also brokered by McKay, Chhan, Wayne and Kemper, sold for $138 million in September 2021, marking the highest price-per-square foot ever paid for a student housing asset at $1,000 per square foot.
“Demand for student housing is surging in markets like Seattle, where top-tier universities such as the University of Washington continue to grow,” says Chhan. “Husky Housing presented an excellent opportunity for the new owners to establish a stake in the student housing market early, ahead of significant further development.”
- ◦Sale/Acquisition
