DETROIT, CHICAGO, HOUSTON and CHARLESTON, S.C.– February 2, 2021 – Berkadia today announced $247.3 million in combined sales of nine student housing properties totaling 4,376 beds. The various assets serve University of Notre Dame, Wright State University, Clemson University and Montana State University. Senior Managing Directors Kevin Larimer and Brandon Buell of Berkadia’s Student Housing team along with Senior Director Chris Bruzas of the Chicago office, Managing Director Mark Boyce of the Carolina’s office and Managing Director Rick Vidrio of the Great Lakes office, together completed the sales on behalf of their respective sellers.
“The assets ran the full spectrum of property types from Core to Core Plus to Opportunistic,” said Kevin Larimer. “After a slowdown in student housing investment sales activity as investors analyzed the impact of COVID-19 on student housing operations, capital is quickly flowing back into the sector. Capital sources for these sales included foreign equity, domestic institutional and private equity.”
“2021 is off to a strong start for Berkadia Student Housing, we are seeing a surge in interest from both international and domestic capital as the stability and resilience of the industry is becoming more widely recognized,” said Brandon Buell. “Student housing is heating up!”